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Iran announces readiness to transport energy resources via North-South, West-East corridors

BAKU: Iran’s gas sector is fully prepared for transit and transportation of energy within the framework of North-South and West-East corridors, Iranian Oil Minister Javad Owji said to reporters after a Cabinet meeting in Tehran, Trend reports.

According to Owji, the infrastructure for transit and transportation of Iranian gas in the country is fully ready. Investments have been made in this area in recent years.

Owji added that proposals in this field and investment were voiced by the Iranian president at the Gas Exporting Countries Forum (GECF) held in Algiers.

GECF Secretary General Mohamed Hamel noted that these proposals have been put on the agenda.

Commenting on the development of oil fields in Iran, the Iranian minister stated that Iran’s Sepehr and Jufair fields will soon be put into official use. These fields will produce 50,000 barrels of crude oil daily.

To note, the Sepehr and Jufair oilfields are located in Khuzestan province in southwestern Iran. Iran’s Sepehr oil field has reserves of 5.4 b
illion barrels of oil. It is reported that 450 million barrels are possible. Iran’s Jufair oil field contains 4.4 billion barrels of oil. Production of 390 million barrels is reportedly possible.

Source: Trend News Agency