BAKU, Azerbaijan, October 30. Iran's Arvandan Oil and Gas Production Company earned $66 million in revenue due to the early completion of the overhaul of the North Azadegan plant, the Executive Director of Iran's Arvandan Oil and Gas Production Company Abdollah Ozari Ahvazi told local media, Trend reports.
He stated that reports indicated the North Azadegan plant overhaul would take two months. However, they completed the plant overhaul in just one month. This resulted in an additional 1.2 million barrels of crude oil production.
Ozari Ahvazi added that with the overhaul of the mentioned refinery, the production increased by 2,000 barrels per day to 41,000 barrels per day. The production potential is 65,000 bpd.
The official reported that the NGL-3200 gas processing plant currently receives daily transportation of 20 million cubic feet (about 566,000 cubic meters) of gas. The mentioned plant received 600 million cubic feet (about 17 million cubic meters) of gas for processing during the month.
Arvandan Oil and Gas Company operates under the National Oil Company of Iran. Currently, the daily crude oil production potential of Arvandan Oil and Gas Company is 400,000 barrels. The company also has the potential to produce 7.64 million cubic meters (270 million cubic feet) of gas daily.
To note, a total of 74 oil fields and 22 gas fields are currently operating in Iran. There are 37 oil fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Iranian Central Oil Zones Company, 5 in the territory of the Arvandan Oil and Gas Production Company, and 18 in the territory of the Offshore Oil Company. Additionally, the South Oil Zones National Company of Iran operates 5 gas fields, the Central Oil Zones Company operates 13, Pars Oil and Gas Company operates 1, and the Offshore Oil Company operates 3.
Iran's total hydrocarbon reserves are 1.2 trillion barrels. Iran can produce 340 billion barrels of this gas with existing technological equipment. Iran can use about 30 percent, while 70 percent remains unused underground.