BAKU, Azerbaijan, January 29. Iran’s crude oil exports increased by 10 percent in value during the first 10 months of the current Iranian year (March 21, 2023 through January 20, 2024), compared to the same period of the previous year, said Mohammad Rezvanifar, director general of the Islamic Republic of Iran Customs Administration (IRICA), Trend reports.
Rezvanifar said that Iran exported crude oil worth $29.9 billion in the specified period.
However, the director general did not reveal the volume or the destination of the exports.
Iran’s non-oil exports exclude only crude oil, mazut, and white oil, which are subject to US sanctions that prevent Iran from exporting them freely. Therefore, Iran has been focusing on increasing its non-oil exports to cope with the economic pressure.
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. Iran can extract 340 billion barrels with the available technology and equipment. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
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