BAKU, Azerbaijan, May 19. Iran’s oil and gas sector is in urgent need of foreign investment, said expert Mehran Amir Moini,TurkicWorld reports.
Speaking to local media, Amir Moini said international sanctions have significantly restricted foreign capital inflows, while domestic investment remains insufficient to cover required expenditures.
He noted that under current conditions, no favorable outlook is expected for Iran’s gas sector in the medium term or over the next five years. In the best-case scenario, Iran would aim to maintain its gas exports to Turkey and Iraq.
Amir Moini added that if sanctions are lifted, Iran could attract investors, develop fields, and potentially expand into new gas markets. He said Pakistan could become a key export destination in such a scenario, citing existing agreements that could be finalized under improved conditions.
He also said that in a long-term scenario—over the next decade—liquefied natural gas (LNG) exports could become a strategic priority if sanctions are removed. However, he stressed that this would require advanced technology and substantial investment, making it unrealistic under current conditions given rising domestic demand.
Commenting on potential cooperation with Russia, the expert said Iran could explore gas trade mechanisms, including swap arrangements via Iranian territory. He also suggested Iran could import Russian gas in the next 4–5 years to meet domestic demand and later transition toward broader trade operations.
Iran currently has 74 active oil fields and 22 gas fields. Of these, 37 oil fields are operated by the South Oil Zones National Company, 14 by the Central Oil Zones Company, 5 by Arvandan Oil and Gas Production Company, and 18 by the Offshore Oil Company. On the gas side, 5 fields are managed by the South Oil Zones National Company, 13 by the Central Oil Zones Company, 1 by Pars Oil and Gas Company, and 3 by the Offshore Oil Company.
The country’s total hydrocarbon reserves are estimated at 1.2 trillion barrels, of which about 340 billion barrels are recoverable using current technology. Iran is able to extract roughly 30% of its reserves, while the remaining 70% remains untapped underground.
