Addressing a press conference on the eve of the 40th
anniversary of the victory of the Islamic Revolution, the official said the net
revenues of exporting petrochemicals would cross 17 billion dollars this
calendar year with 30 million tons of exports.
Bijan Zangeneh said the country’s recoverable oil stood at 160 billion
“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 said on Tuesday.
The official 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.
He also said that Iran’s gas condensate production had reached 750,000
b/d from nothing in 1979.
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 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.