Iran finds new oil, gas reserves, searches for more
Iran is currently scouring 60 percent of its total area for new oil and gas reserves, including in places which were deemed until recently the least likely to have hydrocarbon-bearing formations.
One such place is the country’s northwest, generally attributed as the Iranian Azarbaijan, where preliminary studies indicate the existence of oil reservoirs, head of exploration at the National Iranian Oil Company (NIOC) Saleh Hendi says.
“Our preliminary studies show that hydrocarbon resources are likely to be found in the Bostanabad and Miyaneh regions of East Azarbaijan Province,” he told reporters in Tehran.
“We will soon begin the detailed operational work to further examine these two areas,” he added.
An exploration block with a proven hydrocarbon system has already been found to the north in an area known as the Moghan basin in Ardabil Province.
Hendi said 35-40 new hydrocarbon reservoirs have been discovered across Iran, which need development. “We are now ranked first in the world for oil and gas reserves."
In the Sea of Oman, Iran struck gas at a depth of 800 meters. Hendi said drilling of exploration blocks is currently limited to the Persian Gulf and the country’s southwest and northeast. Iran’s oil industry is headed for choppy waters from US re-enactment of sanctions, but the country’s officials are undeterred.