Iran Unveils 117 Tech Projects to Transform Oil and Gas Industry

Iran has unveiled a comprehensive package of 117 technological projects aimed at modernizing its oil and gas industry. The initiative, developed with the cooperation of 42 entities, was reviewed at a meeting chaired by Mohammad Reza Aref, the First Vice President. The projects focus on enhancing production resilience, improving inter-sectoral coordination, and supporting the private sector. Key priorities include boosting crude oil production by at least 250,000 barrels per day and increasing foreign exchange revenues by $5 billion.

The projects also target the stabilization of gas production from the South Pars field, with goals to secure $500 billion in surplus gas production over 40 years. Innovations include the deployment of pressure-boosting turbines, a technology previously mastered by only five countries. Additionally, plans to manage onshore flare gases and implement surface storage for natural gas aim to increase annual gas supply by 8 billion cubic meters and support non-oil exports by $1 billion.

In the refining sector, projects are underway to improve the quality of heavy refinery residues and produce higher-value petroleum products. For the first time, Group III base oil has been produced domestically, reducing the need for imports. The implementation of energy productivity plans is expected to generate 800 to 1,600 megawatts of electricity and save significant amounts of natural gas annually.

First Vice President Aref emphasized the importance of energy conservation, noting that Iran's energy consumption is 3.8 times the global average. He called for a comprehensive package to save energy and preserve national wealth, stressing the need for cultural and artistic approaches to encourage public participation. Aref also highlighted the role of new technologies in increasing national wealth and reducing poverty, urging complete self-sufficiency in the oil and gas industry through university capacities and private sector involvement.