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Iran Boosts Oil, Gas Exploration Operations

Service : Economy
TEHRAN, June 27 (ICANA) – The National Iranian Oil Company (NIOC) Director for Exploration Seyed Mahmoud Mohaddes announced on Monday that the company has launched new drilling operations in different parts of the country to explore more hydrocarbon fields.
Monday, June 27, 2011 8:10:50 PM
Iran Boosts Oil, Gas Exploration Operations

Mohaddes said digging operations are already underway in a number of exploration wells, including Attar in the Northeastern province of Khorassan Razavi, Delavaran, Mousian and Shour in the Western province of Ilam, Moshtaq, Sepehr, Mehr and Sohrab in the Southwestern province of Khuzestan, Sim in the Southern province of Fars, and a new well in Farzad A hydrocarbon field in the Persian Gulf.

He added that the company also plans to start digging an exploration well in the North-West of Khangiran gas field.

In April, Mohaddes announced that the country has discovered a new hydrocarbon field in the country's Western province of Lorestan.

"Seismological studies have been done on the new field and seismological data have been interpreted by a local company," Mohaddes noted at the time.

He further stated that his company has not yet started drilling operations in the field.

Mohaddes also said that Iran discovered four new hydrocarbon fields named Toos, Forouz, Khayyam and Kooh Sefid during the last Iranian year (ended on March 20), adding that the discoveries have brought Iran's extractible resources to 155 billion barrels.

The Islamic Republic has the world's second-largest crude reserves after Saudi Arabia and the second-largest gas reserves after Russia.

Earlier this month, the British energy company (BP) said in its latest Statistical Review of World Energy that Iran increased its crude oil and natural gas production last year.

The British company also stated that Iran has oil reserves that would last for the next 88 years and is the second longest-lasting oil source in the world.

Based on the Reserves-to-production ratio index, the UAE will be the prominent source of oil for the world with oil reserves that would last for the next 94 years

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