Conventional hydrocarbon reserves in Iran include recoverable oil and gas discovered to this day.
Iran’s petroleum industry dates back to 1908 when the first oil field was discovered. The country has since discovered more than 145 hydrocarbon fields and 297 oil and gas reservoirs. Over the past four decades, a total of 73 new oil and gas fields – 36 oil and 37 gas fields – have been discovered. Moreover, 36 new layers have been identified in the newly-discovered fields. By drilling extension wells, the volume of eight reservoir layers has increased.
Until today, 45% of oil reserves and 77% of gas reserves remain untapped. This statistical data give enough room for maneuvering in the development of oil and gas fields.
By 2016, 74 oil fields and 22 gas fields – either onshore or offshore – were operating.
Onshore Oil Reserves
National Iranian South Oil Company (NISOC) is the largest oil producer in Iran. Ever since the Middle East’s first oil well was drilled in Masjed Soleiman in 1908, this company has seen new developments for oil and gas recovery.
NISOC has five subsidiaries as follows:
• Karoun Oil and Gas Production Company
• Maroun Oil and Gas Production Company
• Aghajari Oil and Gas Production Company
• Gachsaran Oil and Gas Production Company
• Masjed Soleiman Oil and Gas Production Company
Iranian Central Oil Fields Company (ICOFC)
ICOFC covers 75% of Iran. It is a major contributor to national gas production.
ICOFC has three subsidiaries as follows:
• South Zagros Oil and Gas Production Company
• East Oil and Gas Production Company
• West Oil and Gas Production Company
Arvandan Oil and Gas Production Company
This company covers the western part of Khuzestan Province as far as Iraqi border.
Offshore Oil Reserves
Iranian Offshore Oil Company (IOOC)
Production from and development of oil and gas fields in six areas in the Persian Gulf and the Sea of Oman are administered by IOOC which is a leading offshore oil producer worldwide.
The areas run by IOOC are as follows:
• Bahregan Operation Zone
• Kharg Operation Zone
• Lavan Operation Zone
• Siri Operation Zone
• Qeshm Operation Zone
• Kish Operation Zone
Pars Oil and Gas Company (POGC)
Pars Oil and Gas Company is in charge of developing the South Pars gas field and South Pars Oil Layer.