Middle East Economic Survey

VOL. LIV

No 35

29-Aug-2011

IRAN

NISOC Estimates Irans Reservoir Decline At 300,000-330,000 B/D

Hormoz Ghalavand, Managing Director of the National Iranian South Oil Company (NISOC) the largest subsidiary of the National Iranian Oil Company (NIOC), producing around 3mn b/d of oil said on 22 August that Irans natural reservoir depletion rate is 300,000-330,000 b/d each year. At the moment, most of Irans big oil fields, especially in the southern oil regions, are...