(MENAFN) National Iranian South Oil Co. (NISOC) aims to implement projects worth USD645mn in order to raise oil recovery rate from oilfields.
Additionally, the firm also plans to apply 14 projects to establish gas injection stations, which is predcited to grow by 16.3m cubic meters per day.
On the other hand, almost 80 percent of oilfields operational in the country are in their second half-life and need 290m cubic meters per day of gas re-injection.
The company is the biggest crude oil producer in Iran accounting for 83 percent of its crude output and 16 percent of its natural gas production.
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