Iran Discovers New Oil, Gas Fields

Iran has found new oil and gas fields in Western and Northeastern parts of the country, Managing Director of the National Iranian Oil Company Rokneddin Javadi announced on Sunday.
“The initial studies indicate new oil and gas discoveries in Iran,” Javadi said on Sunday.

He underlined that further studies should be carried out before an official announcement can be made about details of the new hydrocarbon reserve finds.

Earlier this year, Iranian Oil Minister Bijan Namdar Zanganeh had mentioned the possibility of discovering new oil and gas fields in Western and Northwestern parts of the country, but said, “The discovery operations in these regions are not yet at a stage to make an official announcement about the results.”

Zanganeh pointed to new signs for oil and gas resources in Golestan, Khorassan Razavi and North Khorassan provinces as well as border regions like Qasr Shirin.

A recent report by the Iranian oil ministry’s explorations department in the first three years of the Fifth Development Plan witnessed 95 percent growth.

Iran also sits atop one of the world’s largest natural gas reserves of over 33 trillion cubic meters and, in the near future, the country is set to increase it gas processing and transfer capacity to one billion cubic meters per day from the current level of 600 million cubic meters per day.