How many oil wells are in Iran? Number will shock you

Iran is home to a significant number of oil wells, primarily concentrated in its rich oil fields located in regions such as Khuzestan, the Persian Gulf, and the Caspian Sea. While exact figures for the total number of oil wells can vary, estimates suggest there are around 3,500 to 4,000 operational oil wells across the country. Iran’s oil production infrastructure includes major fields like Ahvaz, Marun, and Gachsaran. The Ahvaz field alone has hundreds of oil wells, making it one of the largest in the world. The total number also includes both onshore and offshore wells, with offshore fields primarily located in the Persian Gulf.
Iran’s oil production in 2023 was 2.99 million barrels per day (B/D), which is 440,000 B/D more than in 2022. The International Energy Agency predicts a further rise of 160,000 B/D in 2024. Iran’s oil exports jumped to nearly 2 million B/D in March 2024. Most of the exports were destined for the United Arab Emirates, China, Turkey, Germany, and India. Iran announced that its oil exports exceeded $15 billion between March and July 2024.
Iran’s oil sector is managed by the state-owned National Iranian Oil Company (NIOC), which oversees exploration, extraction, and production. Iran holds the fourth-largest proven crude oil reserves globally, and its oil wells play a crucial role in sustaining its production capacity.
As of 2016, Iran holds 157,530,000,000 barrels of proven oil reserves, ranking 4th in the world and accounting for about 9.5% of the world’s total oil reserves of 1,650,585,140,000 barrels.
Iran has proven reserves equivalent to 239.2 times its annual consumption. This means that, without Net Exports, there would be about 239 years of oil left (at current consumption levels and excluding unproven reserves).
Oil Consumption in Iran

Iran consumes 1,803,999 barrels per day (B/d) of oil as of the year 2016.
Iran ranks 12th in the world for oil consumption, accounting for about 1.9% of the world’s total consumption of 97,103,871 barrels per day.
Iran consumes 0.90 gallons of oil per capita every day (based on the 2016 population of 83,812,228 people), or 330 gallons per capita per year (8 barrels). [1 barrel = 42 US Gallons]

Oil production in Iran

Iran produces 4,376,194.36 barrels per day of oil (as of 2016) ranking 7th in the world.
Iran produces every year an amount equivalent to 1.0% of its total proven reserves (as of 2016).

Oil prices surge amid tensions between Iran and Israel
Oil prices have surged as tensions between Iran and Israel have escalated into direct conflict. Markets are increasingly worried that Israel may target Iran’s critical oil infrastructure—such as production, transport, or export facilities—in an effort to cut off the country’s key revenue stream. Additionally, there are concerns that the U.S. could impose sanctions on Iran, further restricting or halting its oil exports. This would result in a significant reduction of global oil supply, exacerbating market strain.
Over the past five years, Iran’s oil production has risen from around 2 million barrels per day (bpd) in 2019 to approximately 4 million bpd. Exports, which had nearly ceased in 2019 due to sanctions, have also surged to around 2 million bpd, aided by the Biden administration’s relaxation of restrictions.
There are two primary fears driving market anxiety:
Direct Israeli Attacks: Should Israel target Iran’s oil infrastructure, it could significantly disrupt Iran’s ability to produce and export oil. As oil is a critical source of revenue for Iran, such actions could cause severe financial and energy-related consequences, especially for global markets heavily dependent on Iranian crude.
U.S. Sanctions: Another scenario involves potential U.S. sanctions on Iran, particularly aimed at curtailing its oil exports. Under relaxed sanctions during the Biden Administration, Iran’s oil exports have rebounded, currently averaging around 2 million barrels per day (bpd), compared to near zero exports in 2019. Any re-imposition or tightening of sanctions could remove a substantial portion of this supply from the market, further straining global oil availability.