Tehran (IP) - The head of the National Oil Company said that 13 research contracts to increase recovery factors in oil fields with a value of 1080 billion tomans (50 million Euro) would be signed with selected universities in Iran.

Iran Press/Iran News: In the ceremony which was held on Monday morning to sign 13 research contracts to increase the recovery factor in the oil and gas field with selected universities, the head of the National Oil Company, Masoud Karbasian, added that these contracts include 50% of oil reserves and 47% of gas reserves of the country.

He went on to say that recognizing scientific and practical solutions to increase recovery factors and their results made us cooperate with universities.

Long term contracts with universities and utilizing their scientific potential is a must, he stressed.

Karbasian noted that the first phase of these contracts was signed in 2015, and their effectiveness made us sign 13 more contracts today.

Referring to the fact that in 2015, nine contracts with the value of 293 billion Toman (14 million Euro) were singed and lasted ten years, he said that those contracts included 36% of Iran oil sources and have improved 20%.

Regarding cooperation with universities, Karbasian added that 260 theses in Master of Art and Science and 45 theses in Ph.D has been worked on oil and gas.


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