BAKU, Azerbaijan, August 5. Iran's National Monetary Fund will invest to increase the country's crude oil production by 250,000 barrels per day, Mohammad Saleh, a member of the Board of Directors of the National Development Fund (NDF) of Iran told local media, Trend reports.
According to him, an investment worth $3 billion is planned to be made to add the mentioned amount of crude oil to production.
Saleh said that 80 percent of these funds will be spent by the NDF and 20 percent by the National Oil Company.
The fund official noted that 50 percent of the investment made in the first stage will be paid through revenues from crude oil production.
As many as 74 oil fields and 22 gas fields are currently operating in Iran. There are 37 oil fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Iranian Central Oil Zones Company, five in the territory of the Arvandan Oil and Gas Production Company, and 18 in the territory of the Offshore Oil Company. Additionally, the South Oil Zones National Company of Iran operates five gas fields, the Central Oil Zones Company - 13, the Pars Oil and Gas Company one, and the Offshore Oil Company three gas fields.
Iran's total hydrocarbon reserves are 1.2 trillion barrels. Iran
can produce 340 billion barrels of this gas with existing
technological equipment. Iran can use about 30 percent, while 70
percent remains unused underground.
-----
Follow the author on X: @BaghishovElnur
