BAKU, Azerbaijan, May 27. Iran accomplished the drilling and improvement of twenty oil and gas wells in the first two months of the current Iranian year (March 20, 2024–May 20, 2024), said Masoud Afshar, deputy director of Iran's National Oil Company, Trend reports.
According to Afshar, four wells were dug for development purposes, while sixteen were drilled for repair purposes.
"Some 16 wells were drilled in the territory of the Southern Oil Zones National Company, two wells in the territory of the Central Oil Zones Company, and one well in the territory of the Offshore Oil Company. Additionally, one well was drilled and improved based on the project of the National Oil Company," he said.
The company official stated that 62 drilling rigs were used for drilling the wells, which totaled 20,000 meters over the two months.
Today, Iran has 74 oil and 22 gas fields. Iran's Southern Oil Zones National Company operates 37 oil fields, the Central Oil Zones Company 14, the Arvandan Oil and Gas Production Company 5, and the Offshore Oil Company 18. Furthermore, the Southern Oil Zones National Company of Iran operates 5 gas fields, the Central Oil Zones Company 13, the Pars Oil and Gas Company 1, and the Offshore Oil Company 3.
Meanwhile, Iran's total hydrocarbon reserves amount to 1.2 trillion barrels. With current technology, Iran can extract 340 billion barrels. This means that approximately 30 percent of the reserves are accessible, while 70 percent remain unused underground.