BAKU, Azerbaijan, January 3. The National Iranian Oil Company (NIOC) will sign 4 contracts worth $2 billion with local companies to develop 4 oil and gas fields, said Fereidoon Kord Zanganeh, an official of National Iranian Oil Company (NIOC), Trend reports.
Zanganeh noted that Iran's Gordan, Khartang gas fields and Pazenan and Azar oil fields will be developed on the basis of the contract.
He added that necessary studies on the development of the mentioned fields were carried out by Bakhtar Petrochemical Company and Ahdaf Petrochemical Company.
The official also said that the latest technical and financial issues are currently being discussed in order to sign the relevant contracts.
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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