Iran using advanced tech for new field discoveries: Deputy oil minister
Iran’s deputy oil minister announced that the country is ahead of its scheduled exploration targets, expressing hope that leveraging advanced technologies will enable access to new oil fields.
Speaking at a ceremony commemorating the anniversary of Iran’s first oil discovery, Hamid Bovard voiced optimism that by utilizing modern technologies, “we can access new fields (albeit smaller) and create opportunities for the private sector to participate through Iran Petroleum Contract (IPC) contracts or other contractual models.”
The head of the National Iranian Oil Company (NIOC) emphasized the need to prioritize shale and unconventional oil resources, stating, "Lorestan shale oil must be seriously addressed."
He noted that while accessing large fields has become more challenging, a significant number of oil fields remain undeveloped across the country.
Commercializing shale oil output
Meanwhile, Mohieddin Jafari, exploration director of the NIOC, highlighted ongoing efforts in shale oil development, saying, "Research initiatives in this field have enabled us to extract up to two barrels of oil per ton of shale rock in certain areas.”
“With adequate funding, plans to commercialize these resources will be prioritized," he said.
During the commemoration event, Jafari referred to the southwestern city of Masjed Soleyman as the birthplace of Iran’s oil industry, saying, "117 years ago today (May 26), the Middle East’s first oil discovery occurred here, paving the way for global energy giants to emerge. The world’s oil industry owes its legacy to Masjed Soleyman."
Jafari went on to say that, "Our focus is on harnessing new hydrocarbon potentials, particularly through shale oil research. We’ve achieved extraction rates of two barrels per ton of shale in select regions, and with financial support, we aim to transition toward commercial-scale production."
Expressing optimism about future discoveries, he concluded, "Finding massive oil and gas fields — even on the scale of South Pars — remains within reach."