BAKU, Azerbaijan, April 22. Iran has no restrictions on foreign cooperation in its oil and gas sector, said the country’s Minister of Petroleum, Mohsen Paknejad, Trend reports.
Speaking to journalists today on the sidelines of the "Transformation in Upstream Oil and Gas Investment and Development" Forum held in Tehran, Paknejad emphasized that the goal for Iran’s oil and gas sector is to attract investments. Both local and foreign investors are encouraged to participate.
Paknejad also revealed that investment opportunities worth over $135 billion have been announced in the Iranian oil sector. To facilitate these investments, solutions have been proposed to simplify procedures, ensuring that investors face no difficulties in the process.
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, five 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 five gas fields, the Central Oil Zones Company operates 13, the Pars Oil and Gas Company operates one, and the Offshore Oil Company operates three.
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.
---
Follow the author on X: @BaghishovElnur
