Iran finds huge oil, gas reserves

October 31, 2009 - 0:0

TEHRAN – Considerable oil and gas reserves have been found in Khorramabad block, western Iran, the data collected by the Norwegian energy group StatoilHydro shows.

Seismic operations and geological surveys carried out by StatoilHydro there indicate it is more probable to hit huge natural gas deposits at the block, the Mehr News Agency reported.
National Iranian Oil Company (NIOC) and StatoilHydro signed a 50-million-dollar deal in September 2006 for the development of Khorramabad block, Press TV reported.
The NIOC has recently discovered three oil and gas fields in Ilam, Fars and Khorasan provinces.
Earlier, massive gas reserves were found in Kish gas field, located near the Persian Gulf Island of Kish, and Azadegan oilfield.
According to the Oil and Gas Journal, Iran’s 2008 estimated proven natural gas reserves stand at 948 trillion cubic feet (Tcf), second only to Russia. Roughly two-thirds of Iranian natural gas reserves are located in non-associated fields, and have not been developed. Major natural gas fields include: South and North Pars, Tabnak, and Kangan-Nar.