BAKU, Azerbaijan, March 18
By Elnur Baghishov - Trend:
The oil and gas production plan was fullfilled at the Maroon Oil and Gas Production Company which is located in the Khuzestan province in southwestern Iran, said MOGPC Executive Director Hamid Kavian, Trend reports citing official website of Company.
According to Kavian, production turned out to be 106 percent higher than planned. Kavian added that 88.5 billion rials (about $2.1 million) have been allocated to the company's social services.
More 580,000 barrels of oil are extracted daily from wells owned by Iran's Maroon Oil and Gas Company. Some of the oil goes for domestic consumption and the rest for export.The company also produces approximately 36,000 barrels of liquefied gas daily, which is sent to Mahshahr petrochemical plant.
The company produces about 560 million cubic feet of gas (about 15.8 million cubic meters) daily, along with oil and 465 million cubic meters (about 13.1 million cubic meters) are shipped to related locations.
The company produces 7,200 barrels of naphtha daily and ships it for export to Mahshahr port. With 1 well repaired and 3 wells commissioned, this production is expected to increase by 27,000 barrels per day.
In general, Iran has 125 oil fields and 59 gas fields. Iran's total hydrocarbon reserves are 836 billion barrels. With its technology equipment, it can produce 239 billion barrels. Iran can use 29 percent and 71 percent remain underground.
The law of nationalization of the Iranian oil industry was approved in Iran, March 19, 1951. Thus, the discovery, operation and extraction of oil is under the control of the state.