Iran publishes data on crude oil production

Oil&Gas Materials 21 December 2022 12:44 (UTC +04:00)
Iran publishes data on crude oil production
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, December 21. Iran currently produces 3 million barrels of crude oil per day, Iranian Oil Minister Javad Owji told reporters after a meeting of the Cabinet of Iran on December 21, 2022, Trend reports referring to IRNA.

According to the latest statistics of OPEC, Iran produced 2,559,000 barrels of crude oil per day in November.

“In addition, Iran's light crude oil production capacity has increased by 200,000 barrels per day. For this purpose, the National Iranian Oil Company (NIOC) and the Research Institute of Petroleum Industry (RIPI) have taken a number of steps,” Owji said.

The National Iranian Oil Company plans to increase the country’s crude oil production capacity to 4,038,000 barrels daily by the end of the current Iranian year (March 20, 2023). Before that, Iran's crude oil production capacity was reportedly 3.8 million barrels per day.

Paying attention to the improvement of the quality of hydrocarbon products at Iran's oil refineries, the minister noted that as a result of the efforts of the Iranian Oil Ministry, a plant for the production of 15 million liters of diesel in accordance with the Euro 5 standard has started operating at the Esfahan Oil Refining Company (EORC). The mentioned plant will be officially commissioned soon.

Owji also pointed out that the quality of products in Abadan Oil Refining Company and Tabriz Oil Refining Company will be increased too.

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 – by the Iranian Central Oil Fields Company (ICOFC), 5 fields – by 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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