BAKU, Azerbaijan, July 24. The production of crude oil has increased by 63 percent under the current Iranian government (Iran's current government has been in power since August 2021), Iranian Oil Minister Javad Owji said at the Cabinet meeting in Tehran on July 24, Trend reports.
According to Owji, whereas crude oil production stood at 2.2 million barrels when the current government started its term, it has now risen to 3.6 million barrels daily.
Owji pointed out that the amount of flare gas associated with production from oil and gas fields has now risen to 16 million cubic meters per day. This figure will rise to 30 bcm per day in the coming future.
The Iranian minister also mentioned that under the current government, gasoline production has increased by 19 percent to 114 million liters per day. Meanwhile, gasoline consumption rose from 87 million liters per day to 123 million liters. Petrol consumption in the country has increased by 40 percent.
To note, Iran aims to increase the country's crude oil production by 8 percent to 5.5 million barrels per day over the next four years.
Furthermore, it should be noted that Iran's total hydrocarbon reserves amount to 1.2 trillion barrels, of which 340 billion barrels the country can produce with the help of existing technological equipment. Iran can utilize about 30 percent of them, while 70 percent of hydrocarbon reserves remain unutilized in the ground.
Iran currently has 74 oil fields and 22 gas fields. There are 37 fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Central Oil Zones Company of Iran, 5 in the territory of Arvand Oil and Gas Production Company, and 18 in the territory of Offshore Oil Company. In addition, a total of five gas fields are operating in the territory of the National Company of South Oil Zones of Iran, 13 in the territory of the Central Oil Zones Company, one in the territory of Pars Oil and Gas Company, and three in the territory of Offshore Oil Company.
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