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Completion of Saveh Block Drilling Operations

Source: Shana 11/15/2009, Location: Asia

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A National Iranian Oil Company official announced the completion of exploration drilling operation in Saveh block in three months. Speaking to PIN, deputy manager of NIOC for Foreign Investments and Exploration fields, Hossein Roshandel, added that there are many signs over the existing of hydrocarbon reserves in the block.

"It depends on the completion of the operation."

PTTEP signed the Saveh block development deal with NIOC to become the operator in the Petroleum Exploration and Development Project of Saveh Block.

Saveh Block is located onshore, approximately 200 kilometers south of Tehran, covering an area of 13,500 square kilometers.

Iran has the second highest potential petroleum reserves of any country worldwide, and is currently the second largest petroleum producer in OPEC.

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