Oil reserves in Iran

Oil reserves in Iran
Iran's Oil and Gas Fields and Infrastructures

Oil reserves in Iran, according to its government, rank third largest in the world at approximately 150 billion barrels (24×10^9 m3) as of 2007, although it ranks second if Canadian reserves of unconventional oil are excluded.[1] This is roughly 10% of the world's total proven petroleum reserves. Iran is the world's fourth largest oil producer and is OPEC's second-largest producer after Saudi Arabia. As of 2009 it was producing an estimated 4.172 million barrels per day (663.3×10^3 m3/d) of crude oil.[2] At 2006 rates of production, Iran's oil reserves would last 98 years if no new oil was found.

Iranian production peaked at 6 million barrels per day (950×10^3 m3/d) in 1974,[3] but it has been unable to produce at that rate since the 1979 Iranian Revolution due to a combination of political unrest, war with Iraq, limited investment, US sanctions, and a high rate of natural decline.[3] Iran's mature oil fields are in need of enhanced oil recovery (EOR) techniques such as gas injection to maintain production,[3] which is declining at an annual rate of approximately 8% onshore and 10% offshore.[3] With current technology it is only possible to extract 20% to 25% of the oil in place[3] from Iran’s fractured carbonate reservoirs, 10% less than the world average.[3] It is estimated that 400,000-700,000 bbl/d of crude production is lost annually due to declines in the mature oil fields.[3]

Iran consumed 1.6 million barrels per day (250×10^3 m3/d) of its own oil as of 2006. Domestic consumption is increasing due to a growing population and large government subsidies on gasoline, which reduces the amount of oil available for export and contributes to a large government budget deficit. Due to a lack of refinery capacity, Iran is the second biggest gasoline importer in the world after the United States.[3] High oil prices in recent years have enabled Iran to amass nearly $60 billion in foreign exchange reserves, but have not helped solve economic problems such as high unemployment and inflation.[4]

According to NIOC, Iran recoverable liquid hydrocarbon reserves at the end of 2006 was 138,4 billion barrels.[5]

Apart from these considerable reserves, from the outset of oil industry in Iran in 1908 to the end of 2007, Iran produced some 61 billion barrels of oil.[5]

Iran oil reserves at the beginning of 2001 was reported to be about 99 billion barrels, however in 2002 the result of NIOC’s study showed huge reserves upgrade adding about 31,7 billion barrels of recoverable reserves to the Iranian oil reserves.

The 2002 NIOC reserve revision has came from following sources:[6]

  • Revision of oil-in-place volume which added 14,3 billion barrels of oil to Iran’s Oil in place reserves.
  • Revision of the field’s recovery factors which increased average recovery factor of the revised oil fields from 29% to 36%.
  • South Pars gas field Liquefied petroleum gas reserves (C3 and C4) about 3,2 billion recoverable barrels.
  • New discoveries about 700 million recoverable barrels.

In addition to the large reserves, Iran still has huge potential for new significant gas discoveries: areas like Caspian Sea, North East, Central Kavir and especially areas starting from Aghar and Dalan gas fields in Fars province up to the Strait of Hormuz and Central Persian Gulf have considerable amount of undiscovered gas resources.[7] According to Exploration Directorate of NIOC, there are about 150 unexplored anticlines in Iran.[8]

Since 1995, National Iranian Oil Company (NIOC) has made significant oil and gas discoveries, standing for some 84-billion-barrel (1.34×1010 m3) of oil in place and at least 191×10^12 cu ft (5,400 km3) of gas in place, which are listed below.[9]

NIOC Oil Discoveries Since 1995.[10]
Field's Name Oil In Place Recoverable Oil Discovery Year
Billion Barrel Billion Barrel
Azadegan 33.2 5.2
Yadavaran (Kushk+Hosseinieh) 17 3
Ramin [11] 7.398 1.11 2007
South Pars Oil Layer 6 NA
Band-E-Karkeh [12][13] 4.5 NA 2007
Mansour Abad 4.45 NA 2007
Changoleh [14] 2.7 NA
Azar[15][16] 2.07 NA 2007
Paranj 1.6 NA 2007
Andimeshk (Balaroud)[17] 1.1 0.233 2007
Binalood[18] 0.776 0.099 2008
Mansouri-Khami layer[19] 0.760 NA
Jofeyr-Fahliyan layer[20][21] 0.750 NA 2008
Asaluyeh[22] 0.525 NA 2008
Arvand[23] 0.500 NA 2008
Sumar[24] 0.475 0.070 2010
Tusan 0.470 NA 2006
Arash 0.168 NA
Total 84.442 NA

See also

References and footnotes

  1. ^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html
  2. ^ The World Factbook, Retrieved 2010-15-1.
  3. ^ a b c d e f g h "Iran Oil". Country Analysis Briefs. US Energy Information Administration. 2007. http://www.eia.doe.gov/emeu/cabs/Iran/Oil.html. Retrieved 2008-04-27. 
  4. ^ "Iran". The World Factbook. US Central Intelligence Agency. 2007. https://www.cia.gov/library/publications/the-world-factbook/geos/ir.html. Retrieved 2008-01-20. 
  5. ^ a b OPEC Annual Statistical Bulletin 2006
  6. ^ The 8th IIES International Conference “Energy Security and New Challenges”, held in 29–30 November 2003, IRIB Conference Center, Tehran, Iran [1]
  7. ^ Undiscovered Oil and Gas Resources of Lower Silurian Qusaiba-Paleozoic Total Petroleum Systems [2]
  8. ^ Farsnews.com 17 Apr 2008 [3]
  9. ^ Iran Oil Ministry Annual Bulletin, 5th Edition, pages 190-193 (available in persian)(كتاب نفت و توسعه).[4] and Iran Energy Balance Sheet (ترازنامه انرژی ایران ) (available in Persian), Pages 132 & 175, Published by; Iran’s Energy Ministry, Secretariat of Energy and Electricity,2006 [5]
  10. ^ Iran Oil Ministry Annual Bulletin, 5th Edition, pages 190-193 (available in persian)(كتاب نفت و توسعه).[6] and Iran Energy Balance Sheet (ترازنامه انرژی ایران ) (available in Persian), Page 132, Published by; Iran’s Energy Ministry, Secretariat of Energy and Electricity,2006 [7]
  11. ^ NIOC Official News Agency,(www.Shana.ir),April 23, 2005, [8]
  12. ^ NIOC Official News Agency,(www.Shana.ir),25/4/2009, [9]
  13. ^ NIOC Official News Agency,(www.Shana.ir),25/4/2009[10]
  14. ^ NIOC Official News Agency,(www.Sahan.ir),October 15, 2007,[11]
  15. ^ NIOC Official Web Site,(www.NIOC.ir),[12]
  16. ^ NIOC Official News Agency,(www.Sahan.ir),October 15, 2007,[13]
  17. ^ NIOC Official News Agency,(www.Shana.ir),[14]
  18. ^ NIOC Official News Agency,(www.Shana.ir),[15]
  19. ^ NIOC Official Web Site,(www.NIOC.ir),[16]
  20. ^ NIOC Official News Agency,(www.Shana.ir),[17]
  21. ^ NIOC Official News Agency,(www.Shana.ir),July 02, 2008,[18]
  22. ^ NIOC Official News Agency,(www.Shana.ir),[19]
  23. ^ NIOC Official News Agency,(www.Shana.ir),[20]
  24. ^ NIOC Official News Agency,(www.Shana.ir),[21]

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