BAKU, Azerbaijan, November 6. Iran needs to adopt modern technologies to boost its oil and gas production, Director of Iran’s Oil and Gas Industry Innovation and Technology Park Esmaeil Kefayati said, Trend reports.
The director stressed that Iran’s oil wells produce only 1,550 barrels of crude oil per day on average, which should be raised to 2,000 barrels.
Kefayati suggested that Iran could leverage the expertise and technology of its mining, start-up and other related firms in the oil and gas sector.
He also mentioned that Iran aims to increase its crude oil production capacity from 3.8 million barrels to 6 million barrels per day under the long term plan. However, he noted that Iran still relies on outdated methods of extraction, which limit its ability to enhance its crude oil production potential.
The director added that Iran has about 100 oil and gas fields under the National Iranian Oil Company (NIOC), and that it cannot afford to delay increasing its production potential and output. The official warned that the wasted time would make it harder to achieve the desired goal.
Iran's Oil Ministry estimates that Iran's crude oil production capacity will increase to 4,450,000 barrels daily by March 20, 2027. Reportedly, Iran's current crude oil production capacity is 3,838,000 barrels per day.
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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