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Iran Finds 2 bln Barrels Shale Oil Reserves in Western Province

Source: www.gulfoilandgas.com 2/20/2017, Location: Asia

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Iran has discovered major reserves of shale oil in the western parts of the country with a top official saying that the reserves are the first that have a feasible potential for production.

"Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels of oil in place,Ē Bahman Soleimani, NIOCís deputy director for exploration. "The oil is light", he added.

Soleimani said exploration was also being carried out for shale gas reserves in the area, and the studies were expected to be completed by October, 2017.

Iran's proven oil reserves of about 160 billion barrels, almost 10 percent of the world's total, rank it fourth among petroleum-rich countries.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

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