23 April 2005 - 16:36
  • News Code: 50860
New Hydrocarbon Fields to Be Developed after Exploration

TEHRAN – Development plan for newly discovered hydrocarbon fields will be drawn up after completion of exploration studies.

Mehdi Hosseini, deputy managing director of the National Iranian Oil Company told Petroenergy Information Network that high output of good quality crude from Ramin and Balal fields has been proven. The official stated that supplementary phases of the exploration are underway to specify location of new production wells and the best method for drilling them. Hosseini put in-situ reserves of Ramin oil field at 7.398 million barrels of which 1.11 billion barrels are exploitable. At the same time, 212.5 billion cu. m. associated gas has been discovered at the field. The volume of gas reserves at Balal field stands at 249.4 billion cu. m. while gas condensate reserves have been estimated at 525 million barrels.
News Code 50860

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