15 May 2013
Some 5.5 trillion rials in the budget have been allocated to the management of oil and gas exploration for the current Iranian year (started March 21), said director general of National Iranian Oil Company for exploration.
Hormuz Qalavand added that about 400 million barrels of oil and 125 billion cubic meters of gas are expected to be discovered by the end of the current Iranian year, Mehr News Agency reported.
He noted that NIOC's Exploration Department has discovered 1,891 million barrels of oil last year, which comprised some 60 percent of the goal set for the period.
Qalavand went on to say that comprehensive geometry studies have been conducted in the central areas of the country.
"With respect to the existing resources, a major part of activities related to oil and gas discovery has been centralized in the northwestern and northeastern part of the country," he said.
Qalavand noted that geophysical studies are underway in the central part of Iran.
Some 5.5 trillion rials in the budget have been allocated to the management of oil and gas exploration for the current Iranian year (started March 21), said director general of National Iranian Oil Company for exploration.
Hormuz Qalavand added that about 400 million barrels of oil and 125 billion cubic meters of gas are expected to be discovered by the end of the current Iranian year, Mehr News Agency reported.
He noted that NIOC's Exploration Department has discovered 1,891 million barrels of oil last year, which comprised some 60 percent of the goal set for the period.
Qalavand went on to say that comprehensive geometry studies have been conducted in the central areas of the country.
"With respect to the existing resources, a major part of activities related to oil and gas discovery has been centralized in the northwestern and northeastern part of the country," he said.
Qalavand noted that geophysical studies are underway in the central part of Iran.
© Iran Daily 2013
