Sunday, February 7, 2010

Iran Discovers 2 New Oil, Gas Fields

TEHRAN - Iranian Oil Minister Seyed Masoud Mir-Kazzemi announced on Saturday that two giant oil and gas fields have been found in southern and western Iran.

Speaking to reporters on Iran's southern Island of Kish, Mir-Kazzemi said that the oil field is located in Soummar, east of Naftshahr, in the western Kermanshah province.

He said that the filed has 475 million barrels of oil reserves, of which 70 million barrels are recoverable.....

"We have estimated a $5-billion revenue for this oil field," Mir-Kazzemi announced.

Regarding the newly-discovered gas field, the minister said that it is located in Halegan about 73 km north of the Persian Gulf port of Assaluyeh.

The minister added that the gas fields' output could reach some 50 million cubic meters of gas per day and for 20 years.

Iran, OPEC's second largest oil producer, plans to open some of its oil and gas fields to foreign investment and boost output by 2015 to 5.3 million barrels per day (bpd), from the current 4.2 million bpd.

Iran possesses roughly 10 percent of the world's total proven petroleum reserves.

Iran has the world's second-largest reserves of natural gas (15% of the world's total) as well....


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