TEHRAN - Head of Oil and Gas Innovation and Technology Park Mohammad Esmaeil Kefayati has said the first barrel of oil from the country’s low-yielding oil fields that are being restored by knowledge-based companies is expected to be extracted by the end of the current Iranian calendar year (late March 2024), Shana reported.

Stating that the plan for restoring low-yielding and closed wells is the largest knowledge-based project in the country’s oil industry, Kefayati said: “The study work is being done and the specified [knowledge-based] companies are ready to take over the wells, and we hope to extract the first barrel of oil from restored low yielding wells by the end of this year.”

EF/MA