5 new gas, oil fields discovered in Iran


JNN 17 May 2011 TEHRAN – Iran has discovered 5 new oil and gas fields which hold over 500 million barrels of oil and 5 trillion cubic feet of gas, the exploration director of the National Iranian Oil Company announced here on Monday. 

He did not give any further details.

Iran also announced in January that a new gas field has been discovered with considerable deposits of natural gas and gas condensates.

During the past 12 months, 6 oil and gas fields have been discovered in Iran which has reassessed the country’s oil and gas reserves. According to the latest studies, the country’s oil reserves have reached 150.31 billion barrels,” SHANA news agency reported in November last year. This is roughly 10 percent of the world’s total proven petroleum reserves.

Iran is the world’s fourth-largest oil producer and is OPEC’s second-largest producer after Saudi Arabia.

Iran has the world’s second-largest reserves of natural gas (15 percent of the world’s total). It contains an estimated 974 trillion cubic feet (Tcf) in proven natural gas reserves. About 62 percent of these reserves are located in non-associated fields.

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