BAKU, Azerbaijan, May 8. Iran plans to invest $10 billion in its oil and gas sector during the current Iranian year (from March 21, 2025, through March 20, 2026), said Mohsen Paknejad, Iran's Minister of Petroleum, Trend reports.
Speaking today at the opening of the 29th International Exhibition of Oil, Gas, Refining, and Petrochemicals in Tehran, Paknejad emphasized that this investment is one of the key priorities for the Iranian Ministry of Petroleum.
The minister further stated that the investment would boost Iran's crude oil production by an additional 250,000 barrels per day through various projects.
Meanwhile, Iran's gas production is expected to increase by 30 million cubic meters per day, while the country plans to add 180,000 barrels per day to its refining capacity. Paknejad also noted that the production of petrochemical products is projected to grow by 7 million tons.
As many as 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.
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