53bn barrels of in-place oil at newly-discovered Namavaran Oilfield

TEHRAN, Nov. 11 (MNA) – Iranian Oil Bijan Namdar Zanganeh said the newly-discovered oilfield in Khuzesan, named Namavaran, has an estimated 53 billion barrels of in-place oil.

Addressing reporters on Monday, the minister said the new discovery had added 22 billion barrels of crude oil to previous estimates of the field, which stood at 31 billion barrels.

He said the field now is estimated to hold 53 billion barrels of crude oil in place and there is a possibility of its southward continuation.

Assuming a 10% recovery rate in the field, 2.2 billion barrels of crude oil have been added to the country’s crude oil production capacity, he said.

This is the second-largest oilfield discovered in Iran following the Asmari Oil Layer in Gachsaran with 54 billion barrels of oil in place.

MNA/SHANA

News ID 152148