News ID: 280166
Published: 0326 GMT January 31, 2021

Iran’s oil, natural gas industries growing considerably: Minister

Iran’s oil, natural gas industries growing considerably: Minister

Iranian oil minister said the country’s oil and natural gas industries have developed considerably since the victory of the 1979 Islamic Revolution of Iran.

Bijan Namdar Zanganeh said Iran’s natural gas reservoirs have also increased, reported

“The [natural] gas industry has developed following the Islamic Revolution. [Natural] gas reserves amounted to nine trillion cubic meters, but have now risen to 33 trillion cubic meters,” he said.

“Currently, over 80 percent of the oil industry’s stationary equipment is produced inside the country, and good progress has been made in this regard. The production capacity is not comparable to that of 15 years ago,” the oil minister noted.

“Iran is now among the top producers of petrochemical products in the region,” he said.

The minister noted that 95 percent of the country’s population is now provided with natural gas.

He also touched upon Iran’s oil exports. “As long as oil sanctions are not lifted, I’m not going to make any comments,” Zanganeh said.

Iran has always welcomed foreign company’s presence in its oil industry, Zanganeh said on January 25.

In an address to reporters on the sidelines of a meeting with members of the Society of Iranian Petroleum Industry Equipment Manufacturers, the minister added foreign firms’ presence in Iran’s oil industry would help develop domestic capabilities and meet the sector’s needs.

Iran’s capacities are among the country’s national assets, he said, stressing that the human capacity of the domestic oil industry is more important than oil, as it has helped the country stand on its own two feet under the toughest circumstances.


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