The National Iranian Oil Company managing director said on Friday NIOC plans to invest more than $70 billion in the coming years to increase the country’s gas production capacity to 1.5 billion cubic meters per day (bcm/d).

Speaking in an official ceremony to launch the projects of the Iranian Central Oil Fields Company (ICOFC) for increasing gas output, Mohsen Khojastehmehr added, “In line with the 13th administration’s approaches to gas production increase and stability, 12 million cubic meters per day (mcm/d) were added to the country’s gas output today.”   

Elaborating on the recent increase, the CEO of NIOC said 4 mcm/d were added as the second phase of Aghar gas field in southern province of Fars became operational and 2 mcm/d were increased by Dalan field of the province.

Another 6 mcm/d increase was achieved in Khangiran gas field in Sarakhs, northeastern Iran, said Khojastehmehr, continuing a 3 mcm/d jump in gas production was made as wells 76 and 78 of Khangiran field were officially put into operation and another 3 mcm/d increase was made by further gas extraction from Shourijeh D storage facility.

The official said the 6 mcm/d jump in production increased Khangiran gas field’s output to nearly 70 mcm/d.

Some 3.2 bcm gas storage

Around 3.2 bcm of gas were stored in Sarajeh and Shourijeh D facilities in Qom and Sarakhs respectively in the first eight months of the current Iranian calendar year (starting March 21, 2023), the highest volume in the past 10 years, said Khojastehmehr.

Gas storage is an important strategy, underlined the deputy oil minister, adding Khangiran plays a major role in this regard.

“We plan to implement the development project of Khangiran gas field and also carry out exploration operations there as geophysical surveys showed the field contains more hydrocarbon reservoirs,” he pointed out.

The country is currently producing more than 1 bcm/d of gas, mentioned Khojastehmehr, concluding, “Of the figure, 240 mcm/d are produced by the Iranian Central Oil Fields Company, with Khangiran accounting for around 70 mcm/d.”