Iran starts issuing permits for exploration of hydrocarbon resouces
TEHRAN, Iran, Feb.17
Iran's Oil Ministry has started to issue permissions for exploration of hydrocarbon resources, said the country's Deputy Oil Minister Mohsen Paknejad, Trend reports citing Shana news agency.
He specifically noted the certificates for exploration in the upstream sector.
"The certificates will only be issued to explore and evaluate the existence of oil and gas reservoirs in a specific area. Development and production will not require a permit," he said.
"After exploration works, the oil ministry would issue permits for the national Iranian Oil Company," he added.
"The Oil Ministry will monitor the implementation of commitments noted in the issued permits," he said.
"So far 12 permits have been issued to explore hydrocarbon sources. It is expected to increase the number of permits," he added.
Previously, Farshad Alihani, deputy director of the research department of the Iranian Ministry of Petroleum said that Iran needs real connection between research and oil production.
Iran currently offers certain hydrocarbon products via its Energy Exchange (IRENEX) on a regular basis.
Presently, Iran has 836.4 billion barrels of liquid hydrocarbon (crude oil and gas condensate) and about 34 trillion cubic meters of gas. In general, Iran with its hydrocarbon reserves ranks first in the world.
The US imposed sanctions on Iran in November 2018. Iran faced some problems with oil production, export and oil equipment as a result of the sanctions. The country is taking steps to resolve the problems in oil sector.
Iran has the plans related to the oil production, oil refining and conversion of oil into finished products and not to export crude oil.