BAKU, Azerbaijan, December 31. The nation's gas output is set to rise by 2 million cubic meters a day with the launch of the 85th well at Iran's Khangiran gas field, Deputy Oil Minister and executive director of the National Oil Company Hamid Bovard told local media, Trend reports.
According to him, approximately 65 million cubic meters of gas are presently being extracted on a daily basis in the northeastern sector of the nation. This output plays a role in the overall gas utilization metrics within the northeastern region of the nation.
Bovard added that with the commissioning of the Tus gas field in the next Iranian year (from March 21, 2025 through March 20, 2026), 3 million barrels per day will be added to its production potential.
Iran's present gas output exceeds 1 billion cubic meters daily.
In the interim, the Islamic Republic's daily output of crude oil stands at 3.6 million barrels.
To note, Iran operates 74 oil and 22 gas fields. The National Company of Iran's Southern Oil Zones has 37 oil fields, the Iranian Central Oil Zones Company has 14, Arvandan Oil and Gas Production Company has 5, and Offshore Oil Company has 18. South Oil Zones National Company of Iran operates 5 gas fields, Central Oil Zones Company 13, Pars Oil and Gas Company 1, and Offshore Oil Company 3.
The aggregate hydrocarbon reserves of Iran are quantified at 1.2 trillion barrels. Iran possesses the capacity to generate 340 billion barrels of this gas utilizing current technological infrastructure. The utilization capacity of Iran stands at approximately 30 percent, with a substantial 70 percent of resources remaining untapped in subterranean reserves.
