BAKU, Azerbaijan, October 9. The National Iranian Oil Company (NIOC) continues to explore hydrocarbons in the provinces of Ilam, Kermanshah, Khuzestan, Bushehr, and Ardabil, conducting two-dimensional and three-dimensional (2D and 3D) operations, Mohyeddin Jafari, head of the Exploration Department at the NIOC, told local media, Trend reports.
As per his assessment, two exploratory boreholes are presently
undergoing drilling operations in the Fars Province region.
Jafari indicated that by the conclusion of the fiscal year (March
20, 2026), stakeholders will be delineated for geological
undertakings across the jurisdictions of North Khorasan, South
Khorasan, Razavi Khorasan, and Golestan provinces.
The corporate representative articulated that executing exploration
initiatives concurrently across multiple territories within the
nation underscores Iran's substantial capacity in this domain.
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, five by the Arvandan Oil and Gas Production Company, and 18 by the Iranian Offshore Oil Company. As for gas, five fields are located in the territory of the National Iranian South Oil Company, 13 in the Iranian Central Oil Fields Company, one in the Pars Oil and Gas Company, and three 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.
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