BAKU, Azerbaijan, August 30. In total, more than 8.5 million barrels of crude oil have been produced from the oil fields under the control of Iranian Offshore Oil Company (IOOC), the CEO of the IOOC Alireza Mehdizadeh said, Trend reports citing the company’s website.
According to Mehdizadeh, the territory under the control of the Iranian Offshore Oil Company is more than 1,800 square kilometers. The company's oil fields contain 96 million barrels of crude oil reserves, of which 16 million barrels can be extractable.
“In addition, there are 180 billion cubic meters of gas reserves in gas fields under the company's control. Of this, more than 120 billion cubic meters can be extractable. So far, the company has produced 11 billion cubic meters of gas,” he added.
The CEO noted that the company currently produces crude oil from 27 oil platforms.
Iranian Offshore Oil Company (IOOC) was established in 1980 under the auspices of the National Oil Company of Iran. It is reported that the company currently produces an average of 500,000 barrels of oil per day.
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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