Iran's National South Oil Company Targets Major Production Boost

The National Iranian South Oil Company (NISOC) is set to expand its crude oil production by approximately 39,000 barrels per day by the end of the current Iranian year (March 20, 2027).

This was announced by NISOC, citing executive director Ramin Hatami's remarks. With the installation of 27 downhole pumps, crude oil production in the company's territory will increase to 39 thousand barrels per day.

In the current Iranian year so far, the installation of 13 downhole pumps has boosted crude oil production by 15,800 barrels per day. By September 22, the number of installed pumps is expected to reach 17, a significant increase from the 9 installed last year during wartime conditions.

Hatami noted that the use of downhole pumps as an artificial method is necessary due to the increasing volume of water in wells and subsequent decrease in pressure. The program aims to reduce well preparation and repair work duration, utilizing existing potential more efficiently.