Iran Announces Major New Oil Discovery
Iran has discovered a major oil layer beneath the country's Ferdowsi gas field off the coast of Persian Gulf in southern Iran, a top Iranian official says.
Managing director of Pars Oil and Gas Company Ali Vakili said the new layer has an in-place reserve capacity of 34 billion barrels.
"The new oil layer is regarded as one of the biggest layers in the country and it is located beneath Ferdowsi gas field," Vakili said at a meeting of Iranian oil industry's senior managers in Tehran on Sunday.
"We are currently digging an oil rig to complete our assessments," he was quoted by SHANA as saying.
Regarding Iran's giant South Pars gas field, Vakili said all the wells in phases 9 and 10 have come on stream while phases 15 and 18 will begin production next year.
Phase 12 of the South Pars field is scheduled to come online in 2012, he added.
Iran sits on the world's second-largest gas reserves after Russia.
Review all our latest Discovery news.
Join 80,000 oil and gas professionals who receive our weekly newsletter.
You may unsubscribe at any time with one click.
Pars Oil and Gas Company (POGC),
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More
Upcoming OilVoice Training Course
Geomechanics, Basic and Beyond, in Reservoir Management
This course builds from the fundamentals of geomechanics leading up to cutting-edge concepts and a new way of interpreting the behaviour of conventional reservoirs. In particular it shows how historical field production data can be analysed in novel ways to provide information about reservoir commun...
All OilVoice Training Courses