BAKU, Azerbaijan, February 29. The value of Iran’s crude oil exports was around $32.6 billion in the first 11 months of the current Iranian year (March 21, 2023 through February 19, 2024), said Mohammad Rezvanifar, director general of the Islamic Republic of Iran Customs Administration (IRICA), Trend reports.
Meanwhile, in the 11th month alone (January 21 through February 19, 2024), the value of Iran’s crude oil exports stood at $2.68 billion, the director general noted.
However, Rezvanifar did not reveal the volume or the destination of the exports.
Additionally, Iran’s technical engineering services exported to various countries were valued at approximately $1.09 billion, Rezvanifar added.
“In an 11-month period, the cumulative exports of Iran’s goods and technical engineering services to international markets reached an estimated total of $78.9 billion,” he said.
Iran’s non-oil exports exclude only crude oil, mazut, and white oil, which are subject to US sanctions that prevent Iran from exporting them freely. Therefore, Iran has been focusing on increasing its non-oil exports to cope with the economic pressure.
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. Iran can extract 340 billion barrels with the available technology and equipment. Thus, 30 percent of the country's hydrocarbon reserves are recoverable, while 70 percent remain underground.
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