After the armistice of the Iran-Iraq war
( 1988~2002)。 1988 After the end of the Iran-Iraq war in August, Iran National Oil Company started new exploration activities, with six new discoveries from 1990 to 1996. In addition, Iran implemented the postwar economic development and industrial diversification plan, and restored and expanded oil and gas production, processing and petrochemical facilities.
In August, 2000, Iranian National Oil Company claimed that the preliminary seismic study in the Caspian Sea, which belongs to 20% of Iran, obtained the oil geological reserves of 13.7× 108t, which is about (3.42 ~ 4.31/×108t). This is the first time that Iran has published the estimated data of oil reserves in the South Caspian Sea since Shell and Ramos started seismic exploration in this area in 1999.
Iran's natural gas industry developed late. Before the 1960s, most of Iran's natural gas resources were exhausted. In the mid-1960s, the Iranian government began to pay attention to the development and utilization of natural gas resources. After the Iran-Iraq war, from the end of 1980s to the beginning of 1990s, major natural gas discoveries were successively made in southern South Caspian Sea, southern Iran, southwestern China and Persian Gulf. At the same time, contracts for natural gas sales and export pipeline construction were signed with Armenia, Turkey and India, and natural gas processing plants were built, which accelerated the development of Iran's natural gas industry.