Rehabilitating 65 low-yield wells with the participation of 13 technology companies

According to Energy Press, citing the Deputy of Engineering, Research and Technology of the Ministry of Oil, Omid Shakeri stated at the meeting of the Working Group for Promoting Oil and Gas Production Technologies with the aim of strengthening the presence of knowledge-based and elite technology companies in oil and gas projects of the oil industry, explaining the instructions for forming the structure and duties of the working group: Technical evaluation committees, support for elites and human capital development, technological entrepreneurship and technological business development have been established under the working group.
Referring to the latest status of the low-yield wells plan, he added: According to the report presented by the head of the Oil Industry Technology and Innovation Park (Farhang Fasihi), 13 technology companies have active contracts to revive 65 wells, but the implementation of the plan is facing challenges such as the lack of allocation of profit shares to stakeholders, weakness in the appropriate business model, insufficient cooperation of operating companies and complete transfer of contract risk to technology companies.
The Deputy Minister of Engineering, Research and Technology of the Ministry of Oil stated: “Despite the problems, the plan to revive low-yield wells has been evaluated as an important step towards improving oil and gas production technologies, and the Working Group for Improving Oil and Gas Technologies and its specialized committees have a high capacity to make strategic decisions, including selecting and completing exemplary and successful projects.”