Iran Targets 16 Billion Cubic Meters of Associated Petroleum Gas by End of 7th Development Plan

In a significant update regarding the management of Associated Petroleum Gas (APG), it has been reported that the annual collection of APG stands at 4 billion cubic meters. However, ambitious targets have been set in the Seventh Development Plan (2024-2028) aiming to increase this figure to 16 billion cubic meters each year. This initiative highlights the pressing need to reduce gas flaring, which is currently leading to substantial national resource losses.

According to Paknejad, the current state of gas flaring in upstream oil operations is a cause for concern, prompting the need for immediate action. He elaborated on the strategies that have been laid out in both short-term and long-term plans to tackle this issue effectively. Here are some key points from Paknejad’s remarks:

• Current APG Collection: Currently, 4 billion cubic meters of APG are collected annually.
• Future Targets: The goal is to increase this collection to 16 billion cubic meters per year as per the Seventh Development Plan.
• Gas Flaring Issue: Significant volumes of gas are being flared, representing a waste of valuable national resources.
• Progress Monitoring: Recent advancements indicate that about 40 million cubic feet of gas per day has been collected from the Rag Sefid oil field.
• Projected Increase: This collection is anticipated to reach 80 million cubic feet per day, with expectations of hitting 120 million cubic feet per day by mid-April.
• Elimination of Waste: There is hope that ongoing efforts will lead to the complete elimination of gas flaring and the associated waste of natural resources.

Through these measures, the government aims to not only enhance the collection of APG but also to contribute positively to the environment by reducing flaring practices. The environmental advantages of capturing and utilizing this gas are significant, as it can be used for energy production rather than being wasted through flaring. By adhering to the outlined targets in the Seventh Development Plan, the country stands to gain both economically and environmentally.

Paknejad’s optimistic outlook reflects the commitment to addressing the inefficiencies in gas utilization within the oil sector. Furthermore, the implementation of these plans is expected to generate more jobs and improve energy security for the nation. As the oil industry continues to evolve, the focus on sustainable practices becomes increasingly critical.

In conclusion, the ambitious goals set for APG collection under the Seventh Development Plan signify a transformative approach to managing natural resources. The concerted efforts to reduce gas flaring not only promise economic benefits but also align with global environmental standards. Stakeholders in the oil and gas sector are now looking forward to seeing how these targets will be met in the coming years.