14 Oil, Gas Fields Discovered in Iran in 4 Years

EghtesadOnline: A total of 14 oil and gas fields were discovered over the past four years, said the head of exploration department at the National Iranian Oil Company.

News ID: ۷۷۶۵۲۹

27 May 2017

“As of 2013 nine gas fields were discovered with total in-place reserves of 1.7 trillion cubic meters, as well as five oilfields containing 6.5 billion barrels of in-place oil,” Seyyed Saleh Hendi was quoted as saying by IRNA on Tuesday.

Elaborating on some of the discoveries, Hendi noted that the gas fields of Pazan in Fars Province, Khar-Tang and Charak in Bushehr and Hormozgan Provinces as well as Yadman and Sepehr oilfields in Khuzestan Province are among the major deposits explored in the period.

He added that in-place gas reserves in Khar-Tang and Charak gas are estimated at 453 billion cubic meters and 481 bcm, respectively, Financial Tribune reported.

Projections show that Charak field also has 174 million barrels of gas condensates, Hendi said.

On the geographical location of one of the new oilfields, Hendi said Yadman is located close to the Iraqi border in Khuzestan but is not shared with the western Arab neighbor.

According to the official, the NIOC has conducted joint oil/gas field studies in collaboration with Austria's OMV, Russia’s Lukoil, University of Barcelona and University of Naples Federico II in Italy.

Iran aims to develop underground hydrocarbon reservoirs using a new type of contract, known as Iran Petroleum Contract, which offer more attractive terms for investment and cooperation. The contracts were unveiled in late 2015 along with some 50 oil and gas development projects.