Shorouk Express 
BAKU, Azerbaijan, May 8. Iran is working to
create new markets in an effort to increase its share in
international energy trade, said Mohsen Paknejad, Iran’s Minister
of Oil, Trend
reports.
In his address today at the opening ceremony of the 29th Iran
Oil, Gas, Refining, and Petrochemical International Exhibition in
Tehran, Paknejad emphasized that the focus is on strengthening
relations with neighboring countries and others, as well as
leveraging opportunities for international cooperation.
He also mentioned that enhancing cooperation between Iran and
Russia in the oil and gas sectors is a key objective. There are
excellent opportunities for the participation of companies from
both countries within joint projects. Iran is working to establish
a secure legal framework for joint investments, reduce political
risks, and create favorable conditions for private sector
participation by securing agreements in the parliaments of both
countries.
In response to a recent agreement between Turkmenistan and
Türkiye for swapping Turkmen gas via Iran, Paknejad noted that this
development will help strengthen Iran’s position as an energy hub
in the region.
As many as 74 oil fields and 22 gas fields are currently
operating in Iran. There are 37 oil fields in the territory of the
National Company of Iran’s Southern Oil Zones, 14 in the territory
of the Iranian Central Oil Zones Company, five in the territory of
the Arvandan Oil and Gas Production Company, and 18 in the
territory of the Offshore Oil Company. Additionally, the South Oil
Zones National Company of Iran operates five gas fields, the
Central Oil Zones Company operates 13, the Pars Oil and Gas Company
operates one, and the Offshore Oil Company operates three.
Iran’s total hydrocarbon reserves are 1.2 trillion barrels. Iran
can produce 340 billion barrels of this gas with existing
technological equipment. Iran can use about 30 percent, while 70
percent remains unused underground.
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