BAKU, Azerbaijan, November 21. Iran’s crude oil output from the Forouzan oil field has risen by 25 percent, or 6,000 barrels per day, since the current government took office in Iran in August 2021, Iranian Oil Minister Javad Owji said, Trend reports.
The minister noted that the field now produces 30,000 barrels per day, up from 24,000 barrels per day when the current government took office.
Owji also said that Iran aims to boost production from this field to 40,000 barrels per day by September 22, 2025.
As for Iran’s total crude oil output, the minister mentioned that it has grown by 1.3 million barrels per day in the same period, from 2.1 million to 3.4 million barrels per day.
The Forouzan oil field is located in the Persian Gulf, 100 km southeast of Kharg Island in the Bushehr Province (southern Iran). This oil field was discovered in 1966. The field contains about 2.3 billion barrels of oil. Iran has 53 wells in this oil field.
During the past few years, the production of Iran's Foruzan field has been reported to be 40,000 barrels of crude oil per day, but due to various reasons (including lack of import of necessary equipment and supplies due to US sanctions and various economic problems), it has become clear that the production of crude oil from this oil field was actually lower.
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 the 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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