BAKU, Azerbaijan, November 15. Iran has boosted its gas production by 50 million cubic meters per day since August 2021, when the new government took office, Iran's Oil Minister Javad Owji said, Trend reports.
He made this statement to reporters in Tehran after a meeting of the Cabinet of Iran on November 15.
Owji said that this increase in gas production demonstrates the positive steps that the government has taken and is taking in this sector.
On average, Iran currently produces about 259 billion cubic meters of gas annually and more than 800 million cubic meters daily.
The minister also revealed that Iran’s gas exports rose by 20 percent in the first seven months of the current Iranian year (March 21 through October 22, 2023) compared to the same period last year.
Iran’s average gas export is reportedly 38 million cubic meters per day.
Iran has the second-largest gas reserves in the world, with about 34 trillion cubic meters of gas. The country’s gas production capacity is reportedly more than 1 billion cubic meters.
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 of the Iranian Central Oil Fields Company (ICOFC), 5 fields of the Arvandan Oil and Gas Company (AOGC), and 18 fields of the Iranian Offshore Oil Company (IOOC).
In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields are operated by the ICOFC, 1 field is operated by Pars Oil and Gas Company (POGC), and 3 gas fields are operated by the IOOC.
Iran’s total hydrocarbon reserves are estimated at 1.2 trillion barrels. With the 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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