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Several memorandums signed in Iran’s oil sector

Oil&Gas Materials 9 August 2021 14:41 (UTC +04:00)

BAKU, Azerbaijan, Aug. 9

By Elnur Baghishov – Trend:

Eight memorandums of understanding have been signed between the Iranian Oil Industry Innovation and Technology Park and Iranian universities and science and technology parks to establish innovation and joint development centers today on Aug. 9, Trend reports Shana News Agency.

According to the report, the Iranian Oil Industry Innovation and Technology Park has signed the memorandums of understanding with technical institutes of Tehran University, Shahid Chamran University, Sahand University of Technology, Geophysical Institute of Tehran University, Khorasan Science and Technology Park, North Khorasan Science and Technology Park, Semnan Science and Technology Park and Yazd Science and Technology Park.

“Joint innovation centers will be established on the basis of memorandums of understanding signed with the technical institutes of Tehran University and Shahid Chamran University,” the report said.

In addition, joint development centers will be established on the basis of memorandums of understanding signed with Sahand Industrial University, Tehran University Geophysics Institute and Semnan Science and Technology Park, the report said.

According to the report, under the memorandums of understanding signed with Khorasan Science and Technology Park, North Khorasan Science and Technology Park and Yazd Science and Technology Park, support will be provided to enterprises operating in the oil sector.

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.

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