Statoil Submits Oil Recovery Plan to Iran

A national action plan for improved oil recovery (IOR) was submitted by Statoil to the Iranian authorities earlier this summer.

"This plan has been drawn up in close cooperation with the Iranian state oil company and local specialist communities," reported chief executive Olav Fjell. "It will make an important contribution to the work being carried out by the Iranian authorities to improve recovery from domestic fields." He reported that Iran had been prompted by the good IOR results achieved on Statoil-operated fields off Norway to ask whether the Norwegian oil company could help develop an Iranian strategy.

"We've recovered 1.5 billion more barrels of oil from Statfjord and Gullfaks than was expected 20 years ago. And we believe we can improve the recovery factor even more."

He noted that the additional oil recovered from these two fields represents NOK 240 billion in extra revenues for the Norwegian community at an oil price of US $20 per barrel.

"Most of this money has ended up in the government's coffers, but it has not appeared by magic," said Mr. Fjell. "It derives from expertise, painstaking work and the willingness to adopt new technological solutions. Other factors involved include the ability to understand the reservoirs and what is needed to squeeze out the last drops, and the efforts of people with drive, creativity and enthusiasm."


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