BAKU, Azerbaijan, March 12. Iran's revenues from gas exports amounted to $6.5 billion, from the beginning of the current Iranian year (March 21, 2022) to March 12, 2023, Iranian Oil Minister Javad Owji said, Trend reports citing Shana News Agency.
He made the remark at an event held on regarding to launch the sale of certificates of deposit for crude oil and gas condensate at Iran Energy Exchange (IRENEX) in Tehran on March 12.
Owji noted that Iran's revenue from gas export for the reporting period increased by 14 percent, compared to the same period last Iranian year.
“In addition, Iran swaps Turkmenistan's gas to Azerbaijan. According to the signed contract on gas swap, daily 5 million cubic meters should be swapped, while in recent months, the gas swap has increased to 10 million cubic meters per day. Discussions are being held with the Turkmen side about the gas swap,” he added.
The minister said that Iranian and Russian companies have a memorandum of understanding worth $40 billion and contracts worth $4.5 billion in the oil and gas sector. It is hoped that soon the memorandums of understanding will move to the contract stage.
According to the statement of the National Iranian Gas Company (NIGC), Iran currently exports 30 million cubic meters of gas to Türkiye, 10 million cubic meters to Iraq, and 6 million cubic meters to Azerbaijan.
At the same time, Turkmenistan's gas is swapped to Azerbaijan through Iran. In exchange for 10 million cubic meters of gas imported from Turkmenistan, Iran delivers 7 million cubic meters of gas to 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.
---
Follow the author on Twitter:@BaghishovElnur