BAKU, Azerbaijan, Feb. 10
By Elnur Baghishov – Trend:
The gas extraction in Iran will increase by 60-70 million cubic meters daily by the end of the current government (August 2021), Deputy Oil Minister and Managing Director of the National Iranian Gas Company (NIGC), Hassan Montazer Torbati told the Shana news agency, Trend reports.
According to Montazer Torbati, Iran's current natural gas extraction is 1 billion cubic meters daily.
The deputy minister added that two steps are to be taken to increase extraction.
The director stressed that the first step is to increase the number of wells in existing gas reservoirs in the short term. Thus, extraction can be increased in this way.
“The second step is the development of new gas fields in the long term," he said.
Montazer Torbati noted that a number of other steps can be taken to increase gas extraction. For example, it is possible to increase extraction by developing the Kish gas field, gas reservoirs around the Kangan Gas Refinery, and Parsian Gas Refinery.
Iran has 125 oil fields and 59 gas fields. The country's total hydrocarbon reserves are estimated at 836 billion barrels. With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country's hydrocarbon reserves are recoverable, while 71 percent remain underground.
Over the next 20 years, it is planned to be spent $50 billion to increase gas extraction in Iran.