BAKU, Azerbaijan, October 4. Iran has made significant discoveries in the field of oil and gas exploration since the current government took office in August 2021, Iran's Oil Minister Javad Owji told reporters after today’s meeting of the Cabinet of Iran in Tehran, Trend reports.
According to Owji, four new fields have been identified, contributing to the country’s energy resources:
- Cheshmeh Shur Gas Field in Razavi Khorasan Province;
- Hirkan Oil Field in Golestan Province;
- Tangu Oil Field in Bushehr Province;
- Genaveh Oil Field in Bushehr Province.
“As a result of these discovery operations, a total of 2.6 billion barrels have been added to Iran’s recoverable oil reserves,” he added.
Additionally, there is preliminary information about the discovery of a new gas field in Fars Province, estimated to contain approximately 22 trillion cubic feet (about 623 billion cubic meters) of gas, the minister noted.
The minister also pointed out that Iran’s achievements in hydrocarbon resource discovery have positioned it ahead of regional countries such as Saudi Arabia, Iraq, Kuwait, the UAE, and Qatar.
Notably, every well drilled in Iran has yielded successful results in finding hydrocarbon resources. These discoveries are crucial for Iran’s energy security and economic development, emphasizing the country’s commitment to advancing its energy sector.
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 of the Iranian Central Oil Fields Company (ICOFC), 5 fields of the Arvandan Oil and Gas Company (AOGC), and 18 fields of 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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