Iran's use of hydrocarbon reserves 10$ less than world average

Oil&Gas Materials 12 March 2019 15:43 (UTC +04:00)

Baku, Azerbaijan, March 12

By Elnur Baghishov - Trend:

Iran's use of hydrocarbon reserves is on average about 10 percent less than the world average, Karim Zobeidi, director of consolidated planning at the National Iranian Oil Company (NIOC), said, Trend reports referring to the NIOC.

He noted that average usage ratio of world hydrocarbon reserves is 35 percent.

In total, there are 125 oil fields and 59 gas fields in Iran, Zobeidi said.

Currently, most of Iran's oil is extracted from Ahvaz field in Ahvaz county of Khuzestan province, which is located in south-west of the country, Zobeidi said adding that the reserves of Ahvaz equal to 70 billion barrels.

The director underlined that there are over 200 incomplete oil storage facilities in Iran.

He further added that in general, 42.4 percent of oil storage facilities and 10 percent of gas storage facilities have been emptied and there should be an investigation carried out on gas and oil storage facilities in Iran.