BAKU, Azerbaijan, December 13. Iran’s Oil Ministry is implementing a number of plans to increase gas production, Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojasteh Mehr told reporters, Trend reports citing Shana News Agency.
According to the mentioned plans, 500 million cubic meters per day will be added to Iran's gas production in 7 years (till March 19, 2029), the deputy minister said.
Khojasteh Mehr added that the opportunities for the country’s start-up companies will also be used to increase gas production.
“Increasing gas production in Iran is one of the necessary steps to be taken because it is necessary to eliminate the disproportion between production and consumption in the country,” he noted.
The CEO also pointed out that Iran is ahead of Saudi Arabia and Kuwait in research on the Arash (Dorra) gas field, which is a joint gas field among the mentioned three countries. The needed funds for excavations in the field have already been allocated, and Iran will start excavations in this field as soon as possible.
The Arash gas field is located in the Persian Gulf between Iran, Saudi Arabia, and Kuwait. The field reportedly contains 20 trillion cubic feet (about 600 billion cubic meters) of gas and about 310 million barrels of oil.
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 – by 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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