BAKU, Azerbaijan, March 26. Iran’s crude oil production has risen by 50,000 barrels per day in the early days of the current Iranian year (from March 21, 2025, through March 20, 2026), said the country's Minister of Oil, Mohsen Paknejad, Trend reports.
Speaking to the media following a cabinet meeting in Tehran on March 26, Paknejad attributed the increase in production to the completion of enhancement operations in one of the production sections of the Azadegan oil field, a joint venture with Iraq, on March 19.
The minister further mentioned that Iran’s Ministry of Oil is taking various measures to increase crude oil production.
"In the coming month, we are planning a forum on investment opportunities in the oil sector, where investors will have a chance to familiarize themselves with the potential of Iran’s oil industry," he said.
According to OPEC's report, Iran's crude oil production averaged 3.3 million barrels per day in February, which is an increase of 34,000 barrels compared to January.
Currently, Iran has 74 active oil fields and 22 gas fields. There are 37 oil fields operating under the Southern Oil Zones National Company of Iran, 14 under the Central Oil Zones Company of Iran, 5 under the Arvandan Oil and Gas Production Company, and 18 under the Offshore Oil Company. Additionally, there are 5 gas fields operating under the Southern Oil Zones National Company of Iran, 13 under the Central Oil Zones Company, 1 under the Pars Oil and Gas Company, and 3 under the Offshore Oil Company.
Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. With existing technology and equipment, Iran can extract 340 billion barrels, but it is only utilizing about 30 percent of its reserves, with 70 percent remaining untapped underground.
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