Feb 13 2012 |
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New oilfield with huge reserves found: NIOC director
Tehran - Iran discovered a new oilfield with significant in-place crude reserves, Mahmoud Mohaddes the director for exploration of the National Iranian Oil Company's (NIOC) said.The official added that further details of the discovery will soon be announced.
Mohaddes told reporters in January that Oil Minister Rostam Qassemi would soon disclose the details of a newly-discovered gas field.
'Before the end of the current [Iranian] year (to end on March 19th), based on our earlier promise, we will also announce the details about the discovery of two new oilfields. On the whole, definite exploration operations have been carried out on five oilfields in addition to Khayyam oilfield and Madar gas field,' he added.
The NIOC's Exploration Department recently signed a contract for exploration and development of Farzad A gas field with Petropars Company.
In June 2011, Iran discovered Khayyam gas field with in-place reserves of 277 billion cubic meters of natural gas in Assalouyeh, Bushehr Province.
Managing Director of NIOC Ahmad Qale'bani announced the discovery of Madar Gas Field in eastern Assalouyeh with reserves of about 495 billion cubic meters in August 2011.
Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait and Persian Gulf littoral countries, Qatar and Oman.
The country is OPEC's second largest oil producer and the fourth crude oil exporter.
In recent years, Iran has gradually been moving towards becoming a major exporter of refined oil and petrochemical products with significant success.
Earlier, Qassemi said the country's oil has been sold four months in advance and the Islamic Republic will face no problems even if European sanctions are imposed. 'I think it unlikely that global oil markets would ignore Iran's oil because this would create problems for them.'
© IRNA 2012
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