“Ramin, the newly discovered oilfield is located 40 km off northeastern Ahvaz, the provincial capital city of Khuzestan, and has been drilled in the 5300-m depth of the well, reaching the new layers of oil and gas”, the Iranian Students News Agency (ISNA) reported Zanganeh as saying.
According to him, the recently discovered gas field in the South Pars is in the vicinity of Balal filed.
Zanganeh explained that the said oilfield has the in-situ capacity of crude oil as much as 5.7 billion barrels at least 855 million barrels of which valued at $25b (if oil price is considered $30 per barrel) are extractable.
The API degree of Ramin field is rated at 27, 32, and 36 at different layers, the official said, adding that the oilfield has the gas capacity as much as billion 242 cu. m. of which 36b cu. m. is extractable.
He further stated that with discovering Ramin oilfield, the country’s in-situ oil capacity will hit over 137 billion barrels.
“In the newly found gas field, a new gas supply at the volume of billion 168 cu. m. was found in the 3430-m depth coupled with discovering 182 million barrels of the liquefied gases valued at $8b”, the minister said.
He noted that the information on these fields has been approved and they are ready to be developed. “However, we do not have any specific planning to put them into operation”, he added.
The minister predicted that with the daily development of the said fields, the country’s oil and gas production will increase to 70,000 to 80,000 barrels of crude oil, 20m cu. m. gas, and 20,000 barrels of the liquefied gases. In addition, the country will earn at least $42b Forex revenues in the next Iranian year starting March 21, 2005, if oil continues to stay at the minimum price of 30 dollars, he added.
In conclusion, Zanganeh said that the revenues generated from crude oil export will hit over $30b before termination of the current Iranian year falling on March 20, 2005, and the oil production is predicted to stand at 1.4 billion barrels in the next Iranian year.
FK/MA
END
MNA