Giant hydrocarbon potential still exists in Iran even after prolific production for many decades. Currently Iran is operating about twenty-six drilling rigs and producing about 3.6 MMBOPD from about 1,200 wells in thirty-nine fields.

Since oil was discovered at M.I.S. in 1908 exploration has extended on and offshore to several provinces and regions of Iran. Oil production from the Zagros fold belt dominates Iranian hydrocarbon production. Zagros reservoirs have been developed in Jurassic, Cretaceous and Tertiary carbonates and clastics.

Despite the decades of exploration and production future exploration and field development opportunities appear to abound now aided by new technologies and tools.