Ramin Hatami made the remarks Wednesday during a meeting on the progress of flare gas recovery projects at NISOC in Ahvaz, attended by representatives from the Oil Ministry, the National Productivity Organization of Iran, the Plan and Budget Organization and the Ministry of Economic Affairs and Finance.

Hatami said NISOC, the country’s largest oil producer, operates across seven provinces, accounting for about 75 percent of Iran’s crude output and nearly 10 percent of its gas production while supplying feedstock to much of the petrochemical sector in the south.

He noted that most of Iran’s onshore oil fields fall under the company’s jurisdiction and said 61 oil reservoirs and 20 standalone gas reservoirs are currently being monitored, developed and produced in southern oil fields. The oil in place at these fields is estimated at about 387 billion barrels, with recoverable reserves of nearly 109 billion barrels. About 70 billion barrels have been produced from the fields since the start of Iran’s oil industry, he added.

Hatami said the company employs more than 30,000 people and operates through five subsidiary production firms. As reservoirs enter the second half of their productive lives, he said, oil production has become more complex and challenging, making the use of advanced methods, higher recovery rates and improved efficiency increasingly essential.

 Two Contracts Signed for Flare Gas Recovery and Petrochemical Feedstock

Hatami said numerous upstream projects have been implemented based on technical expertise, laboratory studies and field operations, with NISOC playing a leading role. Iran’s first pilot enhanced oil recovery field project was carried out by the company and, if continued and proven successful, could lead to higher output and greater national wealth, he said.

Turning to surface facilities, Hatami said optimization of installations and higher equipment efficiency are being pursued alongside flare gas recovery projects. Capturing associated petroleum gas—despite technical complexities stemming from variations in pressure, volume and composition—is among the industry’s most valuable measures, he said, creating wealth, completing the value chain and significantly reducing environmental pollution.

Hatami also announced the signing of two major contracts related to flare gas recovery and supplying feedstock to petrochemical plants, saying effective steps have already been taken and detailed reports on the volume and quality of the recovered gas will be released soon.

He expressed hope that continued efforts will further curb flaring, increase revenues and strengthen protection of national resources.