BAKU, Azerbaijan, January 14. Iranian Central Oil Fields Company (ICOFC) requires $4.16 billion for its major projects, said Peyman Imani, an official of the company, Trend reports.
Imani mentioned that these projects include developing oil and gas fields and setting up stations to boost pressure.
He also said that the company’s gas fields need $3.3 billion for development. Since the current government took office in Iran (August 2021), $100 million has been attracted for 3 gas fields.
The official noted that 8 gas fields require $880 million for pressure boosting stations. Since the government began, $423 million has been attracted for 4 gas fields.
Imani revealed that 13 oil fields need $400 million for development. Since the new government took over, $3.7 billion has been invested in the company’s oil fields.
The ICOFC has 84 oil and gas fields in 11 provinces of Iran, of which 13 gas fields and 13 oil fields have been developed. The ICOFC can produce about 250,000 barrels of crude oil and 250 million cubic meters of gas per day.
The company produced a total of 17.4 million barrels of crude oil, 64.3 billion cubic meters of gas and 15.7 million barrels of gas condensate in the last Iranian year (March 21, 2022 through March 20, 2023).
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