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2026-09-02 15:51
Iran accelerates joint oil, gas fields development in 2 years
TEHRAN- According to IRNA, Iran holds approximately 158 billion barrels of proven crude oil reserves—ranking third or fourth in the world—and over 32 trillion cubic meters of natural gas reserves, placing it second globally after Russia, making it one of the world's primary energy hubs. This hydrocarbon wealth is largely concentrated in the Zagros sedimentary basin in the southern and southwestern onshore areas and the Persian Gulf basin.
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2026-08-30 09:24
Drilling of wells in joint Balal field enters new phase
TEHRAN- The project manager of the joint Balal gas field development plan announced the completion of drilling for two wells in the field, stating that upon its commissioning, Iran's daily gas production capacity will increase by approximately 14 million cubic meters, offsetting part of the country's gas imbalance.