BAKU, Azerbaijan, April 5. The first center for the collection of flare gas in Iran is expected to be put into operation in Hoveyzeh County of Khuzestan Province (south-western Iran) in the next few weeks, Iranian Oil Minister Javad Owji told reporters in Tehran on April 5, Trend reports citing IRNA.
According to Owji, daily 250 million cubic feet (about 7.08 million cubic meters) of flare gas produced together with oil from the oil fields in west of the Karun River, including North Azadegan, South Azadegan, Yadavaran, Yaran and others, will be collected and turned into valuable products in this center.
The minister noted that a total of $1.3 billion was spent on this center, and 5,000 people will be employed.
Reportedly, about 50 million cubic meters of flare gas are burned in Iran daily. Iran is currently collecting more than 20 million cubic meters of flare gas 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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