Tehran, Iran, Feb. 13
By Mehdi Sepahvand – Trend:
The incumbent Iranian administration has so far discovered 6.5 billion barrels of new oil reserves, Saleh Hendi, director of exploration at the National Iranian Oil Company (NIOC), said.
During President Hassan Rouhani’s term in office, nine gas fields, four oil fields and a new oil reserve with 6.5 billion barrels of in-situ oil as well as 64 billion cubic feet of in-situ gas were discovered, he said, IRNA news agency reported February 13.
The Rouhani administration took office in 2013 and will hold office until the summer of 2017.
Hendi further said that during the 5th Development Plan (2011-2016+2017), 30 billion barrels of oil and gas condensates were discovered, 4.7 billion barrels of which are extractable.
Proved oil reserves in Iran, according to its government, rank fourth largest in the world at approximately 150 billion barrels as of 2013, although it ranks third if Canadian reserves of unconventional oil are excluded.
According to the Iran Petroleum Ministry, the proved natural gas reserves of Iran are about 1,046 trillion cubic feet (29.6 trillion cubic meters) or about 15.8% of world's total reserves, of which 33% is associated gas and 67% is in non-associated gas fields.
Iran has the world's second largest reserves after Russia.