NIOC chief says West Karoun holds 86% of Iran’s joint oil reserves

SHANA (Ahvaz) – The National Iranian Oil Company (NIOC) managing director said on Friday West Karoun is home to 86 percent of the country’s shared oil reserves.

Accompanying Oil Minister Javad Owji during his visits to Yaran and Yadavaran oil fields in the West Karoun region, southwestern province of Khuzestan, Mohsen Khojastehmehr added joint fields hold 10 percent of Iran’s crude oil reserves.

According to the NIOC chief, the contracts signed for the development of nine oil fields in West Karoun are worth more than $20 billion.

Owji and Khojastehmehr accompanied President Seyyed Ebrahim Raeisi, who officially put Sepehr and Jofeir oil fields into operation via videoconference on Friday.

News ID 638809


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