Overall Description of the Sector
Iran was the 5th largest crude oil producer in OPEC in 2020 and the world’s 3rd largest dry natural gas producer after the United States and Russia in 2019 with an estimated 1,200 trillion cubic feet (TCF) proved natural gas reserves according to Oil & Gas Journal. Iran holds 16% of the world’s proved natural gas reserves and almost half of OPEC’s reserves. Iran holds some of the world’s largest deposits of proved oil and natural gas reserves, ranking as the world’s 4th and 2nd country with the largest reserves of oil and natural gas, respectively, in 2020. In addition to the abundance of fossil energy resources, Iran has a significant potential as a source of renewable energy, including water, solar, wind, biomass and geothermal resources, and is endowed with 16.8%, and 10.5% of the world’s gas and oil reserves respectively.
Crude Oil and Oil Products:
• Discovering, producing and exploiting oil and other hydrocarbon products
• Discovering unconventional reserves such as oil, gas and gas hydrates’ shales
• Developing and equipping oilfields and using up-to-date technologies to enhance the efficiency of these sites
• Increasing extraction capacity from joint oilfields to reach a maximum rate
• Building and equipping oil and oil derivatives’ storage tanks
• Processing oil to generate and sell oil products
• Improving the quality and quantity of refinery products with an aim to reach the maximum value-added by means of enhanced technology and producing a final product with up-todate standards
• Establishing companies to produce equipment that are needed for running refineries such as turbines, compressors, etc.
• Building refineries and completing unfinished projects and exporting oil products
• Increasing extraction capacity from joint gas fields to reach a maximum rate
• Producing and refining natural gas Transferring gas through initiating pipeline construction projects
• Stockpiling gas
• Supplying, distributing and exporting natural gas
• Updating distribution and transfer networks and replacing them with modern and standard ones.
• Initiating solar power, wind power and hydropower refineries.
• Developing optimized technologies for supply and distribution of energy
• Generating energy and compost from urban waste