3 March 2018 - 16:31
  • News Code: 281672
Studies raise volume of Iran Oil Reserves: Official

TEHRAN (Shana) – A senior Iranian oil official says recent studies carried out by leading oil and gas companies on Iran oil reserves have pushed up the estimated volume of the reserves by at least 10%.

Deputy Director of the National Iranian Oil Company (NIOC) of Iran for Development and Engineering Gholamreza Manouchehri said the results of the studies carried out by number of Iranian and foreign oil and gas companies on Iran’s oil field promise that “we can increase estimated volume of the proven oil reserves of Iran by at least 10%."

Addressing The 2nd International Congress and International Exhibition of Exploration and Production and the 5th Congress and International Exhibition of Drilling Industry in Iran, Gholamreza Manouchehri, said: "We are all gathered here prepare the petroleum industry for expanding the realm of its activities besides designing, reviewing and reconsidering solutions for transforming the industry and moving it forward."

He added that the new model of oil contracts is one of the major solutions and essential elements for this move, adding: "Given the complexity of the decision-making process and its long-term nature, we believe that only the oil newly-developed oil contracts will be problem solving in this regard.

Deputy Director for Development and Engineering of NIOC added, "There must be a dynamic and very active movement in order to obtain the energy needed to complete this route."

Pointing to the upstream contractors of the petroleum industry, Manouchehri said: "Fortunately, in recent years, the upstream contractors of the oil industry have grown very well and, in comparison with the past, have achieved higher capabilities, which can be relied on to implement resilient economy policies through self-sufficiency and self-confidence".

News Code 281672

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