Iran starts developing gas field shared with Turkmenistan
Iran has started drilling the first exploratory well at the Afshar-1 gas field, which is shared with Turkmenistan, Trend news agency reported, referring to ISNA agency on Sunday.
The Iranian section of the gas field measures around 9 square kilometers in area.
Iran has 18 oilfields, four gas fields, and six associated oil and gas fields shared with its neighboring countries. Iran attaches priority to boosting gas production capacity at its joint oilfields with Qatar and Saudi Arabia.
Daily gas production in Iran is about 600 million cubic meters, and an increase to 1.2 billion cubic meters is projected in the future. According to the National Iranian Gas Company, the country's oil and natural gas reserves account for 10 percent and 16 percent of total world reserves, respectively.
With 155 billion barrels of recoverable oil reserves, Iran ranks fourth worldwide, after Venezuela, Saudi Arabia, and Canada.
With 34 trillion cubic meters of natural gas reserves, Iran has the world's second-largest natural gas reserves after Russia.