BAKU, Azerbaijan, Oct. 2
By Elnur Baghishov – Trend:
Iran will invest about 260 million euros in order to maintain and increase extraction from 3 oil fields in the Kohgiluyeh and Boyer-Ahmad Province (south-western Iran), said Iranian Oil Minister Javad Owji during his visit to the province, Trend reports citing the ministry.
In total, it is planned to increase extraction from the Gachsaran No. 1 and No. 2 oil field, Gachsaran No. 3 and No. 4 oil fields, as well as the Bibi Hakimeh oil field in the province by 40,000 barrels daily, the minister said.
Owji added that the projects on these oil fields will be launched in coming weeks and will be completed in the next 2.5 years.
According to the minister, there are 8 oil fields in Iran’s Kohgiluyeh and Boyer-Ahmad Province. About 13 percent of Iran’s total oil reserves are in this province.
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.
---
Follow the author on Twitter: @BaghishovElnur