BAKU, Azerbaijan, December 3. The oil production at Sepehr and Jofair fields in Khuzestan Province, located in the southwest of Iran, will increase to 62,000 barrels per day, the executive director of Iranian Petroleum Engineering and Development Company (PEDEC), Nasrullah Zarei told reporters, Trend reports.
According to him, oil production at the Sepehr and Jofair fields will increase by 22,000 barrels per day.
Zarei added that in the past two months, production at the Sepehr and Jofair fields increased by 11,000 barrels to 51,000 barrels.
Sepehr and Jofair oil fields are located in the southwest of Iran in Khuzestan Province. On March 8, 2024, these fields officially came into operation. Sepehr oil field contains 5.4 billion barrels of oil. Reports suggest that its production could potentially reach 450 million barrels. The Jofair oil field contains 4.4 billion barrels of oil. It is reported that its production could be 390 million barrels.
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, the 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.
