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Iran Explored 30 bln Barrels of Oil

Source: www.gulfoilandgas.com 2/14/2017, Location: Asia

Iran has discovered about a dozen new oil fields with in-place reserves of 30 billion barrels, head of exploration at National Iranian Oil Company (NIOC) stated.

Seyyed Saleh Hendi said that some 4.7 billion barrels of these reserves are recoverable and 128 trillion cubic feet of gas has also been discovered.

New founding, took place over the past four years, shows that more gas finds are likely, while any new oil find is not believed to be sizable, the official said.

"We need to know that there will be no other huge fields like Yadavaran and Azadeganm and we have to get used to discovering smaller fields," , Hendi added.

Iran's proven oil reserves of 157 billion barrels are the world’s third largest, while its gas reserves are the largest. Taken together, the country owns the biggest hydrocarbon reserves in the world.

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