Iran News ...


05/24/11

Iran's Oil Reserves Rise by 758 Million Barrels

Source: Moj News

The Islamic Republic of Iran's crude reserves increased by 758 million barrels following the discovery of a deposit of light oil in southern Iran, said managing director of the National Iranian Oil Company (NIOC).

Ahmad Qalebani said that Iran's oil reserves reached 155 billion barrels from an earlier 151.3 billion due to the discovery of new fields.

The deposit off the Persian Gulf coast is located at the Khayyam field in Iran's southern Hormozgan province and has the potential to produce 35,000 barrels of oil a day, Qalebani said.

Iran is the second-largest crude producer in the Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia.

... Payvand News - 05/24/11 ... --



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