BAKU, Azerbaijan, June 6. Iran intends to swap crude oil and related products with its neighbors, the CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) Jalil Salari told Trend.
The CEO noted that discussions are underway.
“Iran has previously swapped crude oil and oil products with Russia, Turkmenistan, Kazakhstan and Azerbaijan. Iran now wants to re-activate the swap,” Salari said.
Salari also added that there are conditions for Iran to swap various fuels through Azerbaijan. At the same time, Iran is currently transiting oil products through Azerbaijan.
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 1.2 trillion barrels. With available technology and equipment, Iran can extract 340 billion barrels. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
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