BAKU, Azerbaijan, March 11. Iran currently exports its crude oil at minimal discounts, the country's Oil Minister Javad Owji said at the signing ceremony for the implementation of the national project to increase pressure in the South Pars gas field (North Dome in Qatar), Trend reports.
According to him, Iran's present crude oil exports date back more than five years (March 21, 2018 through March 20, 2019).
To note, on May 8, 2018, the US announced its withdrawal from the Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5+1 group (Russia, China, the UK, France, the US, and Germany) and imposed new sanctions against Iran as of November 2018.
In the period announced by the oil minister of Iran, the country's crude oil production was about 3.9 million barrels per day, and crude oil exports were about 1.7–1.75 million barrels per day.
The minister noted that Iran has achieved great economic development in the field of oil and gas since the beginning of the current Iranian year (March 21, 2023), and this development will continue next year.
Currently, in addition to the increase in crude oil production and exports, the oil sector ranks first in the country in terms of investment and local production, he explained.
Owji added that the South Azadegan oil field, which is a joint oil field between Iran and Iraq, will be officially commissioned in the near future.
To note, Iran's Pars Oil and Gas Company and Petropars, Oil Industries Engineering and Construction (OIEC), Khatamul-Anbiya Construction Headquarters, Mapna Company, and Nargan Company signed an agreement on the implementation of the national project to increase the pressure of the South Pars gas field in Iran on March 10.
Iran has 28 phases of the South Pars gas field. The country has been producing in this field since 2002. Iran is currently producing a total of 700 million cubic meters of gas per day from these phases. It is estimated that the country has spent an estimated $90 billion on this field. About 33 percent of the gas that can be produced from the gas field belongs to Iran. On the Iranian side, the fields have been developed by Iran, while on the Qatari side, the fields have been developed mostly by foreign companies.
The South Pars gas field (North Douma in Qatar) is a joint Iran-Qatar gas field. It is reported that this field has 51 trillion cubic meters (tcm) of gas reserves, of which 36 tcm of gas can be produced. Iran's share in this field is 14 tcm of gas and 18 billion barrels of gas condensate.
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