BAKU, Azerbaijan, October 26. A total of 52 oil and gas wells have been drilled and upgraded in Iran from March 20 through October 21 of the current year, the deputy general manager of the National Mining Company of Iran Masoud Afshar told reporters, Trend reports.
According to him, 39 wells were located in the National Company of Southern Oil Zones, six in the Central Oil Zones Company, two in the Offshore Oil Company, and three in the Petroleum Engineering and Development Company. The National Oil Company project drilled and delivered two of the wells.
Afshar stressed that the total excavations during the seven months amounted to 65,806 meters. Compared to the same period last year, the excavation volume increased by 18,342 meters.
At present, Iran is in the driver's seat with 74 oil fields and 22 gas fields under its belt. The National Iranian South Oil Company is occupied with 37 fields, while the National Iranian Central Oil Company is closely monitoring 14. The Arvand Oil and Gas Company is actively managing five fields, while the Offshore Oil Company is successfully managing 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 treasure trove of hydrocarbon reserves stands at a whopping 1.2 trillion barrels, with 340 billion barrels ripe for the picking using today's technology. Only about 30 percent of the country's hydrocarbon reserves are currently accessible, with the remaining 70 percent lying underground.