BAKU, Azerbaijan, August 9. Iran's crude oil production will increase to 3.5 million barrels per day by the end of the 6th month of the current Iranian year (September 22, 2023), Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojasteh Mehr said, Trend reports.
The deputy minister stressed that when the current government came to power in the country (August 2021), Iran's crude oil production was 2.2 million barrels per day.
Khojasteh Mehr also added that another 150,000 barrels per day will be added to Iran's crude oil production by the next week (August 11, 2023).
However, he did not provide additional information about the oil field from which additional crude oil will be produced, as well as Iran's current crude oil production.
According to the OPEC’s report for June, 2023, Iran's crude oil production was 2,750,000 barrels per day, which is 2 percent more than in May, 2023.
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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