Iran Recoverable Oil Reserves at 160bn Barrels

Source: www.gulfoilandgas.com 2/6/2019, Location: Asia

Iran’s Minister of Petroleum Bijan Zangeneh said Tuesday the country’s recoverable oil stood at 160 billion barrels.

“Although Iran’s crude oil production has dropped from 5 mb/d [in 1979] to about 4 mb/d today, the significant point is that the country’s recoverable liquid hydrocarbon reserves has increased from 88 billion to 160 billion barrels now,” he told a press conference.

He said that more than 50 billion barrels of oil had been recovered in the past four years.

Zangeneh also said Iran’s recoverable gas deposits had grown to 33 tcf from 9 tcf over the past four decades.

“There was almost no gas industry before the [1979 Islamic] Revolution and only 36 mcm/d was processed at the Bidboland refinery. Today, this figure has been multiplied by 30,” the minister said.

Zangeneh also said that Iran’s gas condensate production had reached 750,000 b/d from nothing in 1979.

The minister also touched on the petrochemical sector, saying Iran was selling more than 30 million tonnes a year of petrochemical products, which is valued at $17 billion.

Zangeneh said Iran had outdone Qatar in recovery from the giant offshore South Pars gas field and surpassed Iraq in production from jointly owned oil reservoirs.

He said that production from the jointly owned oil fields in West Karoun would reach 350,000 b/d in March, up from 70,000 b/d in 2013.

Zangeneh said an oil terminal would become operational in Jask for export outside the Persian Gulf region by March 2021.

The minister also boasted that Iran’s gasoline production had risen from 52 ml/d five years ago to 105 ml/d now.

The official further announced Iran’s natural gas production capacity would reach 1 mcm/d in the future.


Georgia >>  6/14/2021 - Highlights
- Block Energy has signed a Memorandum of Understanding ("MoU") with Baker Hughes to support drilling operations in Georgia. ...

India >>  6/14/2021 - McDermott International, Ltd today announced it has received two separate engineering, procurement, construction and commissioning (EPCC) contract awa...

Singapore >>  6/9/2021 - Pavilion Energy Trading & Supply Pte. Ltd. (Pavilion Energy) and bp Singapore Pte Limited (bp Singapore) have signed a long-term LNG sale and purchas...
Kazakhstan >>  6/4/2021 - President of PJSC "LUKOIL" Vagit Alekperov and Chairman of the Management Board of JSC NC "KazMunayGas" Alik Aidarbayev signed a sale and purchase agr...

Russia >>  6/3/2021 - Gazprom Neft and Shell have signed a Memorandum of Understanding setting out a framework for further cooperation in hydrocarbon exploration and produc...
Russia >>  5/28/2021 - - RITEK, a subsidiary of LUKOIL, will become the sole owner of Wolgodeminoil
- The asset transfer is part of Wintershall Dea’s strategy to focus...


Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.