BAKU, Azerbaijan, August 17. Iran will start developing its 5 joint oil and gas fields with neighboring countries as a part of government week in the country (August 24 through August 30, 2022), Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojasteh Mehr said, Trend reports citing the NIOC’s website.
According to Khojasteh Mehr, the mentioned fields are Iran’s Sohrab oil field, North Yaran oil field, South Yaran oil field, an oil reservoir of South Pars gas field and Bilal gas field.
“Furthermore, the South Pars Gas Company (SPGC) will launch a new refining unit within the government week,” he added.
The deputy minister said that the main task of the National Iranian Oil Company is to increase the wealth of the country. Iran has rich oil and gas reserves, but certain programs should be prepared for the use of these resources.
Iran-Iraq joint Yaran oil field (called Majnoon in Iraq) consists of two parts, North Yaran and South Yaran. It is forecast that Iran's Yaran oil field contains about 1.55 billion barrels of crude oil, of which about 100 million barrels can be extractable. Currently, Iran extracts 15,000 barrels of crude oil from this field per day.
Sohrab oil field (called Huwaiza in Iraq) is a joint oil field between Iran and Iraq. By developing this field, Iran intends to extract 30,000 barrels of crude oil per day and a total of 160 million barrels of crude oil within 20 years.
The oil reservoir of the South Pars gas field (called Al-Shahin in Qatar) is the joint field between Iran and Qatar. The reservoir contains about 900 million barrels of crude oil. Iran reportedly extracts about 25,000 barrels of crude oil daily from this reservoir.
Bilal gas field is a joint gas field between Iran and Qatar. This field is estimated to contain about 3 trillion cubic feet (about 85 billion cubic meters) of gas and 100 million barrels of gas condensate. Iran intends to produce 500 million cubic feet (about 14 million cubic meters) and 15,000 barrels of gas condensate daily from this field.
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