{"id":14316,"date":"2025-05-26T04:43:44","date_gmt":"2025-05-26T04:43:44","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=14316"},"modified":"2025-05-26T04:43:44","modified_gmt":"2025-05-26T04:43:44","slug":"irans-high-potential-for-discovering-new-oil-gas-reserves","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/14316\/","title":{"rendered":"Iran\u2019s high potential for discovering new oil, gas reserves"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0The former exploration director of the National Iranian Oil Company (NIOC) said the process of discovering oil and gas is becoming increasingly difficult, as large, low-risk reserves have already been identified, leaving current exploration operations with higher risks. However, Iran still holds significant potential for discovering new oil and gas resources.<\/p>\n

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Mahmoud Mohaddes, in an interview with SHANA on the anniversary of Iran\u2019s first oil discovery, stated that oil is a national asset, but its utilization varies by country. Some nations rely on it to drive economic and industrial development, while others treat it merely as a source of immediate revenue.<\/p>\n

He emphasized that oil is a valuable intergenerational asset, and most oil-rich countries aim to create lasting wealth through careful planning, given its finite nature. Iran\u2019s oil discovery has spurred transformative developments across sectors, with the industry\u2019s growth enabling broader economic progress.<\/p>\n

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\u00a0Sanctions challenge for the Middle East\u2019s first oil producer<\/strong>\u00a0 <\/strong><\/p>\n

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Mohaddes noted that Iran was the first Middle Eastern country where oil was discovered. However, since the revolution\u2014particularly in recent years\u2014the oil industry has faced extensive sanctions.<\/p>\n

Despite these restrictions, Iran has managed to mitigate some sanctions\u2019 effects over time. Mohaddes stressed that while sanctions have complicated technology access, financing and oil sales, the country has found ways to overcome certain challenges.<\/p>\n

“Oil is a great blessing, but wise management can turn it into sustainable wealth,” he said.<\/p>\n

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\u00a0Three key factors for Iran\u2019s oil industry to overcome sanctions<\/strong>\u00a0 <\/strong><\/p>\n

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Mohaddes outlined three critical elements for optimizing production and maximizing reservoir recovery:<\/p>\n

1. Funding \u2013 Investment in oil production to boost output.<\/p>\n

2. Technical expertise and equipment \u2013 While Iran has significant domestic capabilities, some gaps remain, requiring collaboration with foreign firms.<\/p>\n

3. Skilled workforce \u2013 Professionals to manage and direct these resources.<\/p>\n

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\u00a0Gradual shift from fossil fuels to renewables<\/strong>\u00a0 <\/strong><\/p>\n

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Mohaddes acknowledged that exploration is growing harder as major, low-risk reserves diminish. Still, Iran retains strong potential, particularly for gas discoveries. He suggested focusing on high-potential areas like the Abadan Plain and the northern Persian Gulf.<\/p>\n

On renewables, he noted earlier predictions of a sharp decline in fossil fuel use by 2040 but said the transition will likely be gradual.<\/p>\n

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\u00a0Wealth creation through accelerated fossil fuel extraction<\/strong>\u00a0 <\/strong><\/p>\n

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With the eventual decline of fossil fuels inevitable, Mohaddes urged Iran to speed up extraction and convert these resources into sustainable industries. Investment in new exploration and oil industry development is essential, he said.<\/p>\n

He praised NIOC\u2019s recent “Upstream Oil Industry Investment Transformation” event, which introduced projects to attract investment. A detailed booklet outlined funding needs, but Mohaddes stressed that private Iranian firms must collaborate with foreign partners and secure international financing to realize these plans.<\/p>\n<\/div>\n<\/div>\n

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