BAKU, Azerbaijan, June 7. Iran's Oil Terminals Company (IOTC) has started repairing a storage facility with a capacity of 1 million barrels at the Kharg Oil Terminal in Bushehr Province (southern Iran) in order to increase the volume of crude oil supplied into the country's storage facilities, CEO of the company, Abbas Gharibi said, Trend reports.
The use of the mentioned storage has been put on hold for three years due to an undisclosed malfunction.
Gharibi added that in order to supply crude oil into storages and reduce time loss, a contractor company was selected, and the necessary repairs have started already.
According to him, the mentioned storage facility can contribute to the increase of the country's crude oil export.
The Iranian Oil Terminals Company has 40 storage facilities with a capacity of more than 20 million barrels at the Kharg Oil Terminal on Kharg Island. These reservoirs are filled with crude oil through undersea pipelines. At the Kharg Oil Terminal, crude oil is supplied into warehouses and exported after being divided into various types.
Reportedly, Iran exports 1.3 million barrels of crude oil daily.
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.
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