BAKU, Azerbaijan, June 25. Iran is ready for active and constructive cooperation with BRICS member countries to achieve profitable and secure energy goals.
This was announced by Iranian Oil Minister Mohsen Paknejad at the 11th meeting of oil and energy ministers of BRICS member countries in India today.
He said that Iran is ready to play an active role in energy cooperation with BRICS member countries.
According to him, Iran has rich energy resources, international technical capabilities, and a strategic position.
“For this aim, it's interested in constructive cooperation for the formation of a fair and secure energy structure within BRICS,” he pointed out.
Paknejad noted that Iran, as one of the world's largest oil and gas producers, has been able to achieve its goals in the development of energy sector infrastructure despite the existence of sanctions for many years. Thus, Iran's total gas production in 2025 exceeded 280 billion cubic meters. This is approximately 7% of the world's natural gas production.
“Meanwhile, Iran’s crude oil production potential has increased to 4.2 million barrels per day, and oil product production to 2.4 million barrels per day. Iran has high potential for transporting crude oil and natural gas through thousands of kilometers of pipelines in energy transportation,” he said.
The Iranian minister also pointed out that the revival of the world’s energy markets is currently facing serious problems due to the sanctions imposed on countries with large oil and gas reserves. BRICS members have a shared responsibility to prevent problems in energy markets and maintain stability. In this regard, conditions should be created for two aspects of energy security, namely secure demand and supply. As a practical step, it is possible to create conditions for energy security in member countries within the framework of the BRICS energy cooperation roadmap for 2025-2030, in order to stabilize energy prices.
Iran currently has 74 active oil fields and 22 gas fields. Of these, 37 oil fields are operated by the South Oil Zones National Company, 14 by the Central Oil Zones Company, 5 by Arvandan Oil and Gas Production Company, and 18 by the Offshore Oil Company. On the gas side, 5 fields are managed by the South Oil Zones National Company, 13 by the Central Oil Zones Company, 1 by Pars Oil and Gas Company, and 3 by the Offshore Oil Company.
The country’s total hydrocarbon reserves are estimated at 1.2 trillion barrels, of which about 340 billion barrels are recoverable using current technology. Iran is able to extract roughly 30% of its reserves, while the remaining 70% remains untapped underground.
