Iranian Minister of Petroleum Bijan Zangeneh said the country would be recovering natural gas and crude oil from 27 phases of the massive South Pars gas field by late March 2020.

There are currently over 200 undeveloped oil and gas reservoirs in Iran, an official said.

Iranian President Hassan Rouhani voiced Iran’s readiness to export natural gas to neighboring Iraq.

Iranian President Hassan Rouhani said the country was self-sufficient in supplying its energy needs.

Iran and Iraq signed five deals to promote cooperation in various fields on the first day of Iranian President Hassan Rouhani’s trip to Baghdad.

The National Iranian Oil Company (NIOC) introduced a million barrels of gas condensate at the Iran Energy Exchange (IRENEX).

NIOC announced the amount of recoverable reserves of the countrys liquid hydrocarbons, saying Iran sits atop an estimated total of 160.12 billion barrels and its natural gas reserves stand at 33.33 trillion cubic meters.

Iran’s Minister of Petroleum Bijan Zangeneh said Tuesday the country’s recoverable oil stood at 160 billion barrels.

The Speaker of the Iranian Parliament, Ali Larijani, said there were good grounds for Japan’s investment in different sectors such as oil, gas and petrochemicals in Iran.

Iranian Minister of Petroleum Bijan Zangeneh said oil was discovered in the countrys southwestern Abadan region for the first time.