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US Energy Information Administration report on Iran

US Energy Information Administration report on Iran
jamnews,Iran is in the 2nd place of Gasholders after russia by having 17% of the world total gasreserves. Iran also holds 10% of the world oil reserves equal to 157 billion barrels.

By Jam news politics service –US Energy Information Administration stated in its yearly report say about Iran that sanctions have significant effect on oil and gas fields and says western sanctions caused decrease in iran’s produced oil.

By radio farda website according to this assay published on  July 22nd, during these recent years not only Iran has to reduce 1 million oil barrel per day but also its Oil production capacity is decreased due to stopping the projects.

It is said in this report fields development pace and gas production growth is slowed due to the bans.

US Energy Information Administration says Iran'stotalcrude oil production in the last solar year was about 2.7 million barrels, Gas condensatesproduction 400 thousands barrels and gas liquidsProduction 100 thousands barrels per day which sum up to a total of 3.2 million barrels per a day, while it was about 4.2 million barrels in 2011.

The report says, Iran’s crude oil production, in this interval, was reduced 1 million barrels per day, but it is assessed crude oil production in first half of year 2014 was increased to 200 thousands barrels per day, because Iran oil exports and gas condensates were increased 300 thousands barrels per day.

According to this assay, Iran exports about 1.1 million barrels of oil and gas condensates and last year, But the figure raised to 1.4 million barrels daily in 2014 which was the result of iran’s six-month nuclear agreement with six world powers, the agreement ended on July 20th and was renewed for 4 month.

Gas condensates is kind of Light Crude Oilextractedfromgas fields.

Iran's oil revenues
 The report says in following, citing on IMF statistics, Iran’s total gas and oil exports in year 1390 was about 118 billion dollar and in year 1391 with a 47% decrease reached 63 billion dollar and is predicted to again decrease 11%  reaching 56 billion dollars.

Iran’s oil export was decreased after western sanction in 2012, caused iran to shut some of its oil wells.

US Energy Information Administration assay states, iran oil production decreases 8 to 11% yearly due to natural pressure loss of fields and The upstream area (Exploration and Production) is damaged severely by the sanctions.

Therefore, iran crude oil production will decrease 250 thousands barrel yearly and should compensate this loss by producing from new fields or EORmethods.

Iran is facing Naturaldecline inoil due to Beingthe mostactivefieldsin the second halfof theirlife, On the otherbased on this assay, Recovery factorratesfromIran'soil fields is 20 to 25%, in other words Iran can harvest only 20 to 25% of its reserves.

US Energy Information Administration estimatessuggests Iran oil production capacity is decreased along real oil production and no new oil field was utilized.

Oil and gas production
 However this report says iran crude oil production is increased 20 thousands barrels daily.
 In the last year, iran was 2nd oil producer in OPEC but placed 4th in last year.

However this assay states referring to increase in oil production in the current year, iran was the 3rd great oil producer after saudiarabia and iraq in OPEC.

This reprt says iran is one of the world’s top ten oil producer and 5th top gas producer.
 It also says iran oil productions exports has a 40% decline in 2013 compare to 2011.

According to this, Iran is in the 2nd place of Gasholders after russia by having 17% of the world'stotal gasreserves. Iran also holds 10% of the world’s oil reserves equal to 157 billion barrels.

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