TEHRAN (Mehr News Agency) – During the fourth economic development plan (2005-10), Iran will invest $33 billion in its oil and gas industries, Eskandar Bavarian, consultant of the managing director of National Iranian Oil Company (NIOC) announced here Saturday.

About 75% of the amount will be provided through finance and mutual deposit, he added, saying that NIOC is to supply the remainder.

“The oil recovery coefficient will increase by injecting gas or water in the reservoirs,” he said. Iran can increase the coefficient in its reservoirs up to 25% through this method, which is 10% lower than the world standard extent. “The difference arises from the carbonate nature of reservoirs in Iran,” Bavarian stated.

It is possible to reach higher recovery coefficient by injecting higher volumes of gas, he said. It is planned to increase the number up to 30 until the end of the fourth plan, he added.

Bavarian also stated the coefficient is about 57 in Salman oilfield, adding that the Norwegian Statoil Company has planned to increase the number in Marun reservoir.

“Gas injection may produce better effects in land fields while experiments prove good results of water injection in sea oilfields,” he uttered. Presently, 77 oilfields are operational in Iran, Bavarian stated, saying at least twelve other fields, including Kushk, will come on stream during the fourth plan.