TEHRAN – Managing Director of Iran’s Khazar Exploration and Production Company (KEPCO) has said new research shows that huge gas reserves could be laid beneath Iran’s northeastern Gorgan plain, Shana reported.

“Obtained information from 16 exploration wells drilled in this area, along with other studies, indicate huge potential reserves in this area and the need to change the technical approach to the potential hydrocarbon resources in the South Caspian Basin,” Emad Hosseini said.

The results from the two new wells, namely Hirkan 1 and Ghezeltapeh 3, are also expected to confirm the above-mentioned studies, Hosseini noted.

According to the official, KEPCO has proposed four new projects to the National Iranian Oil Company (NIOC), two of which have been approved to be implemented in the region.

“Among the four strategic projects proposed to the NIOC board of directors, two projects namely the two-dimensional seismicity of the Caspian Sea shore area and the management and maintenance of Iran-Amirkabir drilling platform and its supporting vessels have been approved,” the official explained.

Referring to Turkmenistan's plans for exploring gas reserves in the Caspian Sea, he continued: “Khazar Exploration and Production Company has put the two-dimensional seismicity of the Caspian Sea shore area on the agenda in order to determine the best deep drilling location.”

This project will be the first step in creating a seismic database on the challenging shore areas of the Caspian Sea, which is very important considering the existing capacities in these coasts,” the official added.

Back in June 2020, Head of KEPCO’s Department of Geology Farid Taati had said that his company was cooperating with domestic knowledge-based companies for the Caspian Sea oil exploration operations.

KEPCO, which handles exploration operations in the Caspian Sea region in northern Iran, had signed research-based deals with domestic companies in the Iranian calendar year of 1398 (ended in March 2019) to carry out exploration operations in the area.

EF/MA