BAKU, Azerbaijan, March 9. Approximately, $28.5 billion has been invested in Iran's oil and gas sector since the current Iranian government came to power (the current Iranian government has been in power since August 2021), Iranian Oil Minister Javad Owji said, Trend reports.
He made a remark during the event organized on the occasion of the launch of the Sepehr and Jofeir oil fields in Khuzestan province in southwestern Iran.
According to Owji, the works have been completed in 132 projects with the mentioned investments.
Owji added that investments in 50 projects are currently estimated at $48 billion.
He emphasized that during the mentioned period, Iran's crude oil production increased by 60 percent and gas production by 50 million cubic meters.
Meanwhile, according to the OPEC report, Iran's heavy crude oil production in January amounted to 3,163,000 barrels per day.
To note, Iran currently reports daily production of 1.07 bcm of rich gas from various gas fields.
The Iranian minister stated that when the Iranian government came to power, Khuzestan province was producing 1.7 million barrels of crude oil per day. Currently, the province produces 2.7 million barrels of crude oil daily.
The Sepehr and Jufair fields are located in southwestern Iran in Khuzestan province. The Sepehr oil field in Iran contains 5.4 billion barrels of crude oil. It is reported that its production could reach 450 million barrels. The Jufair oil field in Iran contains 4.4 billion barrels of oil. It has been reported that its production could reach 390 million barrels.
The Sepehr and Jufair oil fields have been put into operation recently. It is reported that about 40,000 barrels of crude oil are produced daily from these fields.
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