BAKU, Azerbaijan, September 14. Over the past year (from August 22, 2024 through August 22, 2025), 120,000 barrels of crude oil production has been added to Iran, Deputy Minister of Oil and CEO of the National Oil Company of Iran Hamid Bovard told local media, Trend reports.
According to him, the process of increasing crude oil production will continue with the implementation of plans.
Boverd said that by utilizing the potential of startup companies and making efforts, conditions will be created for the sustainable increase in crude oil production in the country and the realization of the country's macroeconomic plans in the energy sector.
The Deputy Minister said that by utilizing the potential of startup companies, it will be possible to turn billions of barrels of crude oil from the country's underground resources into real wealth.
Currently, Iran has 74 active oil fields and 22 gas fields. Of these, 37 are operated by the National Iranian South Oil Company, 14 by the Iranian Central Oil Fields Company, 5 by the Arvandan Oil and Gas Production Company, and 18 by the Iranian Offshore Oil Company. As for gas, 5 fields are located in the territory of the National Iranian South Oil Company, 13 in the Iranian Central Oil Fields Company, 1 in the Pars Oil and Gas Company, and 3 in the Iranian Offshore Oil Company.
Iran’s total hydrocarbon reserves are estimated at 1.2 trillion barrels. With existing equipment and technology, about 340 billion barrels can be extracted, meaning that only around 30 percent of reserves are recoverable, while the remaining 70 percent remains untapped underground.
