Iran Persian Gulf oil reserves now 96b barrels

National Iranian Offshore Oil Company managing director says Iran’s oil reserves in Persian Gulf has exceeded 96b barrels.
In interview to Mehr News, Mahmoud Zirakchianzadeh also added that details of gas explorations in Hendurabi Island would be public soon.

He provided details of Iran’s important oil and gas exploration projects in Persian Gulf. “Explorations in Persian Gulf go back to 50 years ago, and new studies indicated that there are still several unexplored oil and natural gas reserves in the region,” he added.

The Managing Director also emphasized that Iran’s crude oil reserves had been doubled in course of few years in Persian Gulf, “currently in-place crude oil reserves exceed 96b barrels in Persian Gulf.”

He also believed that “definitely, reserves are much more than this number, and the implementation of largest project in exploration and expansion of hydrocarbon reserves has been in the agenda.”

Zirakchianzadeh also pointed to 3-D seismographic operations in 10 oil fields in Persian Gulf. “The seismographic operation will soon be operative in 4 other oil fields,” he added.

“In addition to these explorative activities, an advanced method of oil and gas exploration has been underway in Persian Gulf. “With € 21m investment in Persian Gulf and Sea of Oman, detection of hydrocarbon rocks will be operative,” he asserted.

He assessed the exploration of a number of new gas fields in Hendurabi Island as ‘definite,’ saying that “Exploration management of Oil Company will dig a well to estimate precise volume of gas reserves in Hendurabi.”