BAKU, Azerbaijan, August 14. Iran has prepared plans to attract investments worth $36 billion for optimization of energy consumption countrywide, Iranian Oil Minister Javad Owji said, Trend reports.
He made the remark at the Iran Energy Efficiency Conference in Tehran on August 14.
He invited investors to come invest in energy sectors in need of optimization. Furthermore, he explained that depending on a contract, if the investment fails to bring revenues in time, the government will pay the investor back in previously saved energy resources (oil, gas, electricity, etc.).
“Although Iran’s oil and gas production capacity is increasing, serious steps should be taken to optimize energy consumption,” he added.
The minister also noted that Iran currently produces 3.19 million barrels of crude oil and 1 billion cubic meters of gas per day. Meanwhile, the country's crude oil production potential is 3.85 million barrels per day.
According to Owji, it is planned to put into operation plants worth $12 billion in the field of oil and gas sector (oil, oil refining and gas refining) in the current Iranian year (March 21, 2023 - March 19, 2024). This will increase the production of gas, crude oil and oil products. Last year, refineries worth $15 billion were put into operation 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 are operated by the Iranian Central Oil Fields Company (ICOFC), 5 fields are operated by Arvandan Oil and Gas Company (AOGC), and 18 oil fields are operated by the Iranian Offshore Oil Company (IOOC).
In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields are operated by the ICOFC, 1 field is operated by Pars Oil and Gas Company (POGC), and 3 gas fields are operated by 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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