TEHRAN, May 27 (Mehr News Agency) - The newly traced Paranj oilfield's in situ reserve is estimated at 1.6 billion barrels, said the National Iranian South Oil Company's (NISOC) technical manager on Sunday.
Hassan Shokrollahzadeh-Behbahani said that the field's extractable oil amounts to 431 million barrels.
The initial daily production capacity of its exploration well is 3,010 barrels which can be increased, he said.
The new crude deposit was discovered near the Karanj oilfield in Ahvaz, the capital of southern Khuzestan Province.
Iran is the world's second largest oil and gas reserve holders, standing after Saudi Arabia and Russia in these two sectors respectively.
Talking to MNA, Alireza Moein said, "The plan will help the refinery increase its daily output by 4.8 million liters in the first stage and 6 million liters in next stages."
Bandar Abbas Refinery was inaugurated in late May 1997 with an initially $1.4 million investment and a nominal capacity of 232 thousand barrels.
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