BAKU, Azerbaijan, December 11. The production of the Iranian Offshore Oil Company (IOOC) from the Gavarzin gas field in Hormozgan Province (southern Iran) has increased by 35 million cubic feet (about 990,000 cubic meters) per day, Trend reports referring to the company’s website.
According to the report, various technical services were carried out in 6 wells of the Gavarzin gas field in August, 2022. As a result, the production was launched from wells No. 3, 4 and 7 of the field.
The wells in the mentioned field have not been operating for about 10 years due to various security reasons.
Iranian Offshore Oil Company (IOOC) was established in 1980 under the auspices of the National Oil Company of Iran. The territory under the control of the IOOC is more than 1,800 square kilometers. The company's oil fields contain 96 million barrels of crude oil reserves, of which 16 million barrels can be extractable.
Moreover, there are 180 billion cubic meters of gas reserves in gas fields under the company's control. Of this, more than 120 billion cubic meters can be extractable. So far, the company has produced 11 billion cubic meters of gas.
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 – the Iranian Central Oil Fields Company (ICOFC), 5 fields – by 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.
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