November 6 (IranMania) - If the required investments are made and the world?s state-of-the-art technologies are used in the sector, Iran's oil exploitation rate from its oilfields would increase by over 28 %, noted the vice president of Norway?s Norsk Hydro Oil Company.
The oil expert who was commenting on the oil production from Iran?s oilfields said that, due investments for increasing the exploitation rate of Iran's oil reserves have not been made.
The average oil exploitation rate from Norwegian oilfields is about 50%. However, based on the planning and making use of modern technologies as well as drilling multi-branch horizontal wells, the figure is expected to grow by 60 %, he added.
Elsewhere in his comments he pointed to the Norsk Hydro Oil Company's $170m investment in Iran's oil sector and stated that if the exploratory project in Iran?s Anaran Oilfield leads to the development and operational phases the Norwegian company will invest about one mbn dollars in the project, Iranian Students News Agency (ISNA) reported.