Official: Iran's hydrocarbon reserves are world's largest
Azerbaijan, Baku, March 16/ Trend M. Moezzi
Iran's 600 billion barrels of oil and 35 trillion cubic meters of gas are the largest hydrocarbon reserves in the world, the Dolat.ir website reports the managing director of National Iranian Gas Company (NIGC) as saying.
With six phases of its joint South Pars gas and oil field becoming operational next year (Iran's solar year ends on March 20), about 200 million cubic meters of gas will be added to Iran's production, said Javad Oji the NIGC's head.
Currently Iran has a production capacity of about 650 million cubic meters. It hopes to expand that capacity to 1.4 billion cubic meters by the end of its Fifth five-year Socio Economic Development Plan (2011-2015), said Mr. Oji.
Iran exported more than nine million meters of gas this year which is a record and exported 54.5 million tons of petrochemicals worth $14 billion.