Jan 23, 2018, 11:18 AM
News Code: 82805225
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Iran big energy reserves: Deputy oil minister

Kish, Jan 23, IRNA – Iran has a large part of the energy reserves and production in the world, said deputy minister of petroleum of Iran.

'Iran holds 9% of the oil and 18% of the natural gas of the world,' said Habibollah Bitaraf in the Kish 14th International Petro Energy Exhibition (Kish ENEX 2018).

Bitaraf said, 'We have the record of producing 6 million barrels of oil per day, and our potential to produce natural gas is about 400 billion cubic meter a year, which is a large portion of the energy in the world.'

He said it is predicted that by the Iranian year 1400 [starting March 21, 2021], Iran will be producing 4.5 million barrels of oil per day; and taking the production of natural gas into account, Iran will be the first energy producer in the world, said Bitaraf.

'Realizing the aims, we need 200 billion dollars of investment in the oil and gas industry,' he added.

The Kish ENEX 2018 is held January 22-25, in Kish Island, the Persian Gulf.

Germany, Armenia, Scotland, Sweden, South Korea, South Africa, China, Georgia, Italy, France, Switzerland, Russia, Austria, Iraq and the UAE are participating in the event.

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