reserves.Iran has explored a layer of 34 billion barrels of crude found under an offshore gasfield in the Persian Gulf, the Oil Ministry’s website Shana reported Sunday.
That volume would make it one of the largest oilfields ever found in Iran and, if proven, could jack up Iran’s oil reserves.
Shana quoted Ali Vakili, managing director of Pars Oil and Gas Co (POGC), as saying the layer was one of the biggest in the Islamic state. “It is located under our Ferdowsi gasfield in the Persian Gulf. Drilling of an appraisal well is going on to complete the assessments,” he said, without giving further details.
In October Iran said its oil reserves were around 150.31 billion barrels, up from a previous estimate of 138 billion. Those are “recoverable” reserves. The 34 billion barrels under Ferdowsi are “in situ” reserves. Iran did not say what proportion of the 34 billion it thought was recoverable with current technology.