BAKU, Azerbaijan, May 15. Iran's hydrocarbon reserves have increased by 2.5 billion barrels during the current Iranian government (which has been in power since August 2021), Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojasteh Mehr said, Trend reports citing Shana News Agency.
The deputy minister added that the country’s hydrocarbon reserves increased with the discovery of 26 new reservoirs.
Khojasteh Mehr also pointed out that the discovery of 10 reservoirs was previously announced, and 16 more reservoirs have been added to the already discovered ones. He said that the development of the mentioned 16 reservoirs requires $1.2 billion worth of investments.
The CEO noted that in total, about $2 billion should be spent for the development of 26 reservoirs.
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.
Previously, Iran’s total hydrocarbon reserves were estimated at 1.2 trillion barrels. With available technology and equipment, Iran could extract 340 billion barrels.
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