BAKU, Azerbaijan, June 20. Some 44.2 percent of operations on the collection of flare gas in the oil zones of the National Iranian South Oil Company (NISOC) have been completed, an official of the NISOC Gholamreza Nourani said, Trend reports.
According to him, operations related to the collection of flare gas began in October 2019 and are expected to be completed on March 20, 2025.
Nourani added that the mentioned operations are carried out under the leadership of Iran's Persian Gulf Bid-Boland Gas Refining Company and Marun Petrochemical Company.
“So, operations on 27 projects worth over $1.1 billion are carried out by the Persian Gulf Bid-Boland Gas Refining Company. As a result, approximately 593 million cubic feet (about 16.8 million cubic meters) of flare gas will be collected daily,” the official said.
Nourani also noted that operations on 8 projects worth $167 million are being carried out by Marun Petrochemical Company. Upon completion of operations, 249 million cubic feet (about 7.05 million cubic meters) of flare gas will be collected per day.
The offical stressed that the collection of flare gas will contribute both to the fuel supply of both companies and to the prevention of environmental pollution.
The National Iranian South Oil Company (NISOC), a subordinate of National Iranian Oil Company (NIOC), operates 45 large and small hydrocarbon deposits in an area of 400,000 square kilometers from Iran's Bushehr Province to the north of Khuzestan Province.
About 80 percent of Iran's crude oil production and 16 percent of gas production accounted for by the company’s oil zones.
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 daily.
There are currently 74 active oil and 22 active 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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