BAKU, Azerbaijan, November 1. Iran has increased daily crude oil production by 54.5 percent compared to when the government took office (since August 2021), Iranian Oil Minister Javad Owji told reporters after today’s meeting of the Cabinet of Iran in Tehran, Trend reports.
The minister noted that when the current government started working in Iran, daily crude oil production was 2.2 million barrels per day.
However, Iran currently produces 3.4 million barrels of crude oil per day, Owji added.
According to Owji, it is expected that the country's crude oil output will continue to grow with the implemented plans and programs. In this direction, work is underway in Iran's joint oil fields with other countries, as well as other offshore and onshore oil fields.
Reportedly, Iran's crude oil production is expected to reach 3.5 million barrels per day by the end of the current Iranian year (March 19, 2024).
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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