BAKU, Azerbaijan, November 9. A total of $800 million has been allocated for the purchase of equipment for drilling oil and gas wells in Iran, the country's Deputy Oil Minister, Executive Director of the National Iranian Oil Company (NIOC) Hamid Bord told reporters, Trend reports.
He states that the National Mining Company of Iran will upgrade several pieces of equipment using the mentioned funds.
Bord added that Iran's National Drilling Company, as an operating company, has a major role in the production of hydrocarbons with its drilling rigs. It is the excavations of this company that enable the country to generate income in the energy sector.
From March 20 to October 21 of this year, Iran drilled and upgraded 52 oil and gas wells. The National Company of Southern Oil Zones drilled 39 of these wells, followed by the Central Oil Zones Company, the Offshore Oil Company, the Petroleum Engineering and Development Company, and the NIOC.
Iran currently holds a dominant position, possessing 74 oil fields and 22 gas fields. The National Iranian Central Oil Company closely monitors 14 fields, while the National Iranian South Oil Company occupies 37 fields. The Arvand Oil and Gas Company is actively managing five fields, while the Offshore Oil Company is successfully managing 18 fields.
Additionally, gas fields include five managed by the National Iranian South Oil Company, 13 by the National Iranian Central Oil Company, one by Pars Oil and Gas Company, and three by the Offshore Oil Company.
Iran boasts a staggering 1.2 trillion barrels of hydrocarbon reserves, of which 340 billion are readily accessible with today's technology. Only about 30 percent of the country's hydrocarbon reserves are currently accessible, with the remaining 70 percent lying underground.
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