Tehran, Iran, February 4
By Mehdi Sepahvand –- Trend:
Iran has discovered 15 billion barrels of new in-situ oil, of which 2 billion barrels can be extracted, according to CEO of the National Iranian Oil Company Ali Kardor.
Also, 66 tcf (trillion cubic feet) of new gas reserves have been discovered, 37 tcf of which can be produced, the official said, Fars news agency reported February 4.
He added that Iran’s entire hydrocarbon reserves amounts to the equivalent of 1.14 trillion barrels of in-situ oil, of which 345.52 billion barrels can be extracted.
Kardor noted that the average recovery rate of oil fields in Iran is 36.81 percent.
Iran produces 3.9 mbpd of oil, of which 2.325 mbpd goes for export.
Proven oil reserves in Iran, according to its government, rank fourth largest in the world at approximately 150 billion barrels as of 2013.
According to the Iran Petroleum Ministry, the proven natural gas reserves of Iran are estimated to stand at about 1,046 trillion cubic feet (29.6 trillion cubic meters) or about 15.8% of world's total reserves, of which 33% are in associated gas and 67% is in non-associated gas fields.