Iran reveals oil and gas field discoveries

12 August 2008
National Iranian Oil Company (NIOC) has discovered four new oil fields holding a total of around 3.7 billion barrels of oil and 1.5 million cubic metres of gas.

Mahmoud Mohaddes, managing director of NIOC, told Iran’s official Oil Ministry website that the largest field, located north of Andimeshk in the province of Khuzestan, holds 1.3 billion barrels of crude with potential production capacity of 230,000-barrels-a-day (b/d).

Other fields include the Fahilan oil formation, with an extra 750,000 b/d, in addition to the existing 600 million-barrel estimate.

Another oil field located in the Assaluyeh region holds around 525 million b/d, according to Mohaddes.

NIOC is planning to attract more than $200bn of domestic and foreign investment in its oil and gas projects over the next 20 years (MEED 12:6:08).

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