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More than 3.6 billion barrels of crude oil discovered in south of Iran

Tehran, April 21, IRNA - Deputy Oil Minister and Managing Director of National Iranian Oil Company (NIOC) Gholam-Hossein Nowzari said here Saturday that 3.6 billion barrels of crude oil has been discovered in southern Iran over the past 3-4 months.

The statement was made at a press conference on the sidelines of the fourth day of 12th international oil, gas and petrochemical exhibition in Tehran.

He told reporters that besides Paranj Oil Field with a proven oil reserve of 1.6 billion barrels, another oil field with an estimated oil reserve of two billion barrels was discovered by the major oil enterprise active in the area, which is situated near Ab-Teimour Oil Field.

He also said that based on the preliminary studies, the oil reserve of Azar Oil Field near Anaran is assessed at 6-8 billion barrels of oil.

The deputy oil minister said that in the last Iranian year (started March 21), NIOC spent 12.7 billion rials on purchasing its requirements from domestic manufacturers, adding that the amount increased 4.5-5 folds compared to that of previous year.

Concerning the talks on sale of Iranian gas to clients, he said that gas will eventually be sold at a price based on national interests.

Nowzari also said that attempts are underway to hold talks with the Iraqi government about cooperation between two sides in oil fields which have not yet been exploited.

Putting the average export of crude oil over the past year at 2.4 million dollars per day, he said that the highest percentage of Iran's crude oil was sold to Japanese clients.

Meanwhile, he said that Iran and Oman are interested in development of their joint gas project at Hengam Field.

He noted that the reserves of this field has mostly been assessed as liquid gas rather than natural gas, adding that 80 percent of Hengam Filed is situated in the Iranian territory.

... Payvand News - 4/21/07 ... --

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