BAKU, Azerbaijan, Sept. 16
By Elnur Baghishov – Trend:
Iran will increase crude oil extraction from its own fields, as well as joint oil fields with neighboring countries over the next 4-5 years, Iranian Oil Minister Javad Owji said, Trend reports citing the ministry.
The minister noted that it is planned to implement a number of programs to increase oil extraction. Thus, both existing extraction should be maintained and also increased.
Owji added that according to current research, Iran can extract more than 154 billion barrels of crude oil.
Reportedly, according to OPEC statistics, Iran extracted 2.48 million (2,485,000) barrels of crude oil daily in August 2021. The figure stood at 2.49 million (2,4893,000) barrels daily in July, 2021.
There are currently 74 oil and 22 gas fields in Iran. So, 37 oil fields are operating in the territory of the National Iranian South Oil Company (NISOC), 14 fields – Iranian Central Oil Fields Company (ICOFC), 5 fields – Arvandan Oil and Gas Company (AOGC), and 18 oil fields – Iranian Offshore Oil Company (IOOC).
In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields – the ICOFC, 1 field – Pars Oil and Gas Company (POGC), and 3 gas fields – the IOOC.
Iran’s total hydrocarbon reserves are estimated at 836 billion barrels. With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country's hydrocarbon reserves are recoverable, while 71 percent remain underground.
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