BAKU, Azerbaijan, April 16. Iran will soon announce opportunities to develop more than 100 oil and gas fields to investors, National Iranian Oil Company (NIOC) official Rza Aghebati told reporters, Trend reports.
He said that currently, work is underway on about 25 memorandums of understanding with local and foreign companies to create conditions for new investors to enter the country's oil and gas sector.
Aghebati mentioned that NIOC has envisaged the possibility of reducing risks, managing them, and transporting currency in the development of oil and gas fields.
The official added that NIOC intends to achieve serious development in the oil and gas sector by reducing all risk-related problems.
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.
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