Amidst rising tensions between Israel and Iran, US President Joe Biden issued a stern warning to Israel, urging them against targeting Iran’s oil fields. While acknowledging Israel’s right to defend itself, Biden expressed concern over the potential disruption to global energy markets that such an attack could trigger.
Iran boasts a vast network of 70 oil fields, according to the IranOilGas Network, a leading independent source for Iranian oil, gas, and petrochemical information. These fields are vital to Iran’s economy and play a significant role in global energy production.
Here’s a glimpse into some of Iran’s most prominent oil fields:
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Ahvaz Field:
The largest of Iran’s oil fields, Ahvaz holds an estimated 65 billion barrels of reserves. It has been producing oil since 1954 and currently yields 750,000 barrels per day.*
Gachsaran Field:
Coming in second, Gachsaran boasts 52.9 billion barrels of reserves. In operation since 1930, this field produces 560,000 barrels per day.*
Aghajari Field:
While its geological structure is complex, Aghajari remains a significant oil field, producing 440,000 barrels per day.*
Marun Field:
Operational since 1965, Marun is another major producer, contributing 520,000 barrels per day.*
Karanj Oil Field:
Adding to Iran’s oil output, Karanj has been in operation since 1964 and produces 200,000 barrels per day.Iran’s oil reserves extend far beyond these major fields, with a total of nearly 208,600 million barrels of proven reserves, according to OPEC data. As a founding member of the Organization of the Petroleum Exporting Countries (OPEC), Iran is a key player in the global oil market.
Beyond petroleum, Iran possesses abundant natural resources like natural gas, coal, chromium, copper, iron ore, lead, manganese, zinc, and sulfur. While petroleum exports remain a cornerstone of its economy, valued at $41,129 million, any disruption to Iran’s oil production could have a ripple effect on global markets and economies.
Biden’s warning highlights the sensitive nature of the situation and underscores the potential global implications of a conflict between Israel and Iran, extending beyond the immediate region.
