BAKU, Azerbaijan, April 5. Iran's crude oil export increased by 90 million barrels for the last Iranian year (March 21, 2022, through March 20, 2023), compared to the preceding year (March 21, 2021, through March 20, 2022), Iranian Oil Minister Javad Owji told reporters in Tehran on April 5, Trend reports citing IRNA.
“Meanwhile, the country's crude oil export for the last year increased by 203 million barrels compared to 2 years ago (March 20, 2020, through March 20, 2021),” the minister added.
Owji said that the Iranian Oil Ministry fulfilled 92 percent of its obligations for the crude oil sales reflected in the state budget bill for the last Iranian year.
Reportedly, Iran's state budget for the last Iranian year (March 21, 2022, through March 20, 2023) envisaged daily export of 1.2 million barrels of crude oil.
Paying attention to the issue of preventing the export of Iranian oil in crude form, the minister noted that several oil refineries are planned to be put into operation in the current year (March 21, 2023, through March 19, 2024).
Owji also pointed out that 1 gas refinery and 1 oil refinery were put into use in the country over the last Iranian year. The launch of the new refineries will allow Iran to reduce crude oil exports and generate more revenues by producing the final products.
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 – Iranian Central Oil Fields Company (ICOFC), 5 fields – Arvandan Oil and Gas Company (AOGC), and 18 oil fields – Iranian Offshore Oil Company (IOOC).
In addition, 5 gas fields are operating in the territory of the NISOC, 13 fields – the ICOFC, 1 field – Pars Oil and Gas Company (POGC), and 3 gas fields – the IOOC.
Iran’s total hydrocarbon reserves are estimated at 1.2 trillion barrels. With 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.