President: Iran to Focus on Development of Joint Oil, Gas Fields

TEHRAN (Tasnim) – Iranian President Hassan Rouhani on Monday said that the development of shared oil and gas resources is among the top priorities of his government.

President: Iran to Focus on Development of Joint Oil, Gas Fields

The president made the remark after a meeting with the minister, deputies and managers of Iran’s Petroleum Ministry during in an unannounced visit to the ministry.

“It was very important to me to underline in the presence of all (petroleum ministry) managers that the issue of our shared oil and gas reserves and the development of these fields are among the priorities of the 11th administration,” Rouhani stated.

Tehran has announced that it wants to maximize its production share from the oil and gas fields shared with neighboring countries.

More than 20 of the country’s hydrocarbon fields lie in border areas and are shared between Iran and neighboring states, including Kuwait, Iraq, Qatar, Bahrain, UAE, Saudi Arabia and Turkmenistan.

The joint oilfields’ production accounts for less than 10 per cent of Iran’s current total oil output.

Onshore and offshore joint fields of the country are currently producing 252.000 b/d of oil and 283 mcm/d of gas.

President Rouhani further highlighted the prime importance of energy in today’s world, and noted that Iran has the largest natural gas reserves and second largest oil reserves in the world, and “this plays a major part in our national power."

He referred to reviewing future plans in the country’s oil and gas sector and discussing the issue of environment as other reasons for his visit to the petroleum ministry.

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