NIOC discovers new 15bn-barrel reserve

News ID: 3896583 -
TEHRAN, Feb. 04 (MNA) – NIOC’s Ali Kardor has announced the discovery of mammoth oil reserve which contains 15 billion barrels of crude.

On Saturday, Mr. Kardor told reporters that this huge amount had been entrapped in small fields. He added that 66 trillion cubic meters of natural gas had also been discovered, with 37 trillion capable of extraction.

Discoveries in Iranian oil and gas fields had regularly been improving the estimated energy reserves and thus the immensity of reserves the country enjoys among the energy giants. The position improved yet further when in February 2016, officials said the in-place reserves had been 175 billion barrels of crude.

Moreover, the amount of recoverable gas reserves had been about 14 trillion cubic meters while the figure has reached 33.5 trillion cubic meters as a result of increased discoveries after the Islamic Revolution, the official was quoted to have said.

Karim Zobeidi, an official of NIOC provided new figures of oil and gas condensates of Iranian ores; “according to the latest discoveries, country’s overall reserves had risen 1bn barrels by March 21 2015 compared to that in the year before,” he told reporters on Sunday.

Yet, in February 2014, the latest Oil Ministry official report gave Iran’s extractable reserves of natural gas as 33.7 trillion cubic meters and oil reserves as 157 billion barrels.

SH/IRN82414889

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