BAKU, Azerbaijan, September 9. Iran has seen a dramatic increase in its crude oil exports this year, with daily exports rising by 60 percent compared to 2021, former Iranian Oil Minister Javad Owji announced at an event in Tehran, Trend reports.
The announcement also signified the presentation of the new Oil Minister, Mohsen Paknejad, to the ministry's personnel.
Owji revealed that Iran's crude oil exports have grown from 2.2 million barrels to 3.5 million barrels per day. He also noted that the country’s revenues from crude oil and gas condensate exports now range between $2.5 and $3 billion per month.
During his tenure, Owji highlighted that Iran initiated 300 projects worth $130 billion and completed 153 projects with a combined value of $34 billion over the past three years. He also pointed out that Iran's gas extraction capacity has increased by 50 million cubic meters per day, and gas processing capacity has expanded by 55 million cubic meters per day.
Currently, Iran operates 74 oil fields and 22 gas fields. The National Iranian South Oil Company manages 37 fields, the National Iranian Central Oil Company oversees 14, Arvan Oil and Gas Company operates 5, and Offshore Oil Company runs 18 fields.
Additionally, gas fields include 5 managed by the National Iranian South Oil Company, 13 by the National Iranian Central Oil Company, one by Pars Oil and Gas Company, and 3 by the Offshore Oil Company.
Iran’s total hydrocarbon reserves amount to 1.2 trillion barrels, with 340 billion barrels accessible with current technology. The country can utilize about 30 percent, while 70 percent remains untapped underground.