Baku, Azerbaijan, June 27

Trend:

The dispatching director of National Iranian Gas Company said gas exports from Iran witnessed a 9-percent rise in the spring (March 20-June 21).

Gas exports from Iran reached over 3.3 billion cubic meters during the 3-month period, Mehdi Jamshidi Dana said, the Press Office of the National Iranian Gas Company (NIGC) reported.

Gas exports from Iran reached over 13 billion cubic meters during the last fiscal year, ended March 20, showing a 46 percent increase compared to the preceding year.

The country's refineries produced close to 247 billion cubic meters of natural gas in the fiscal year of 2017-18, indicating a rise of 8 percent compared to the preceding fiscal year.

Jamshidi Dana further said that the NIGC has supplied over 19.2 billion cubic meters (bcm) of natural gas to the country’s power plants in the spring 2018, 4.7 percent more year-on-year.

Iran has also injected about 3.7 bcm of gas into oil fields during the 3-month period, which is almost 2.7 times more compared to the corresponding period of the preceding year.

About 80 percent of Iran’s active oil fields are in their second half life and lose 8-12 percent of productivity every year and the country tries to compensate production decline in ageing reservoirs by drilling new wells and increasing gas re-injection.

Jamshidi Dana also said that the gas extraction from the Iranian fields stood at 60.8 billion cubic meters during the first three months of the current fiscal year, 9.3 percent more year-on-year.

The Islamic Republic holds around 34 trillion cubic meters of proven gas reserves, sharing 18 percent of total global gas reserves.