Discovery of 883m Barrels of Crude Oil

TEHRAN – During 18 months ending in March 20, 2007, about 883 million barrels crude oil were discovered, whose value has been estimated at over 45 billion dollars given 50 dollars for every barrel of crude oil.

The volume of in place hydrocarbon stocks of the country stood at 738.51 billion barrels in August 2005, but the figure has grown by 3.27 billion barrels in comparison to last March to hit 741.78 billion barrels, over 27 percent of which can e extracted.

With regard to gas, in place gas reserves of the country were estimated at 46.86 trillion barrels in August 2005, which increased by 13 percent in March 2007 to hit 47.86 trillion cubic meters of which an average of 59 percent is exploitable.

According to official figure released by the Islamic Republic of Iran’s Ministry of Petroleum, in place oil and gas resources of the country have been estimated at 2.076 billion barrels oil and 39 billion cu. m. associated gas for Azar oil field, over 760 million barrels oil for Khami Mansouri oil reservoir, 1,666 billion cu. m. gas and 986 million barrels gas liquids and condensate for Kish gas field. Khami reservoir of Ab Teimur oil field is undergoing layer tests and its reserves will be announced after the tests are finished.

Based on that report, oil discovery at Khatami reservoir of Mansouri oil field, with primary in place reserves of 760.2 million barrels and 39 billion cu. m. associated gas as well as 39.61 million barrels hydrocarbon liquids has been one of the most important discoveries in 2006.

In gas sector, discovery of gas and hydrocarbon liquids in Dahrom reservoir of Kish gas field with in place reserves of 1,666 billion cu. m. and hydrocarbon liquids of about 946 million barrels has been among the most important gas finds in the past year, which occurred in coastal waters of Kish island in Hormuzgan province.

Onshore activities related to the said discoveries from August 2005 up to February 2007 included two-dimensional onshore seismography over an area of 1,197 sq. km. 3-D seismography over 1,606 sq. km., gravimetry and magnetometry by 6,937 posts, 13,230 cases of geo-electronic operations, as well as drilling 14 new wells to total depth of 37,023 meters.

News Code 105785

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