BAKU, Azerbaijan, December 18. Iran’s crude oil production has increased by 70,000-100,000 barrels per day over the past three months, the Deputy Oil Minister and Executive Director of the National Iranian Oil Company (NIOC) Hamid Bovard told reporters, Trend reports.
Bovard noted that during this period, Iran’s daily gas production increased by 50-70 million cubic meters.
He added that the production increase was primarily recorded in the areas of the Arvandan Oil and Gas Production Company and the Petroleum Engineering and Development Company (PEDEC).
The deputy minister also mentioned that Iran’s daily gas production now exceeds 1 billion cubic meters.
Reportedly, Iran’s crude oil production is currently at 3.6 million barrels per day.
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.
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, 5 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 5 gas fields, the Central Oil Zones Company operates 13, the Pars Oil and Gas Company operates 1, and the Offshore Oil Company operates 3.