BAKU, Azerbaijan, October 3. It is planned to spend more than $1 billion on important plans of the National Iranian Gas Company (NIGC), for the current Iranian year (March 21, 2022 through March 20, 2023), Iranian Oil Minister Javad Owji said, Trend reports citing Shana News Agency.
According to Owji, the mentioned plans consist of maintaining stable production at gas refineries, increasing the capacity of gas storage facilities, expanding the gas transportation network, supplying gas to the rest of the cities and villages in the country.
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 1.2 trillion barrels. With available technology and equipment, Iran can extract 340 billion barrels. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
At present, Iran's gas production is reportedly more than 1 billion cubic meters per day.
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