BAKU, Azerbaijan, May 27
By Elnur Baghishov – Trend:
The activities have been launched to conduct exploration operations on the Namavaran oil field, a new field in Iran, Deputy Director of National Iranian Oil Company (NIOC) Reza Dehghan said, Trend reports referring to the IRNA.
The deputy director said that upon completion of the activities, a roadmap for the development of the Namavaran oil field will be prepared.
Dehghan added that exploration operations in the Namavaran oil field will begin during the ruling of the new Iranian government (which will come to power in August 2021) and will continue for several years.
In November 2019, Iran announced the discovery of the Namavaran oil field in the Khuzestan Province (southwestern Iran). It is estimated that 2.2 billion barrels of oil can be extracted from this field, which will bring $32 billion to Iran (considering the current oil prices).
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.