Iran has greater potential in technology than in oil sector - minister

Oil&Gas Materials 12 April 2021 14:43 (UTC +04:00)

BAKU, Azerbaijan, Apr. 12

By Elnur Baghishov – Trend:

Iran has a greater potential in the field of technology than the oil sector, Iranian Oil Minister Bijan Zanganeh said, Trend reports citing the Shana news agency.

He made the remark in an event dedicated to the official launch of the Non-Governmental Oil Industry Research and Technology Foundation on Apr. 12.

Zanganeh emphasized that the Iranian Ministry of Oil has been taking the startup issue seriously for years. Petropars, MAPNA, Farab companies doing important work in the oil and electricity sectors.

The minister added that a number of operations have been carried out in order to support the oil industry, including the establishment of startup companies, an innovation and technology park, and the Oil Industry Research and Technology Foundation.

As reported, there are currently 74 oil and 22 gas fields in Iran. So, 37 oil fields are operating in the territory of the National Iranian South Oil Company (NISOC), 14 fields – Iranian Central Oil Fields Company (ICOFC), 5 fields – Arvandan Oil and Gas Company (AOGC), and 18 oil fields – Iranian Offshore Oil Company (IOOC).

In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields – the ICOFC, 1 field – Pars Oil and Gas Company (POGC) and 3 gas fields – the IOOC.

Iran’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.