TEHRAN Oct 8 (Shana)--Iran’s petroleum minister said the country plans to boost recovery from hydrocarbon reservoirs.
Bijan Namdar Zangeneh also said that Iran’s petroleum industry should become the top country in terms of technology among oil-rich countries in the Middle East.

He said one-percent rise in recovery from the reservoirs will earn the country $700 billion in revenues.
Zangeneh singled out Norway, saying the European country has boosted its recovery rate from 30% to 60% in two decades.
He said the recovery rate of Iranian reservoirs varies between 7 and 40%.

By SHANA

 

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