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Iranian consortium to develop Susangerd oilfield

Business Materials 2 August 2012 23:46
Iranian construction consortium Khatam-ol Osia will sign a Heads of Agreement (HOA) contract with National Iranian Oil Company (NIOC) today to develop Susangerd oilfield, in southern Khuzestan province.
Iranian consortium to develop Susangerd oilfield

Azerbaijan, Baku, Aug.2/ Trend F.Milad/

Iranian construction consortium Khatam-ol Osia will sign a Heads of Agreement (HOA) contract with National Iranian Oil Company (NIOC) today to develop Susangerd oilfield, in southern Khuzestan province.

The oilfield was discovered in 2009 after drilling to a depth of 5,026 meters, and the expected and possible amount of reserves in this field is over 8.8 billion barrels, the Mehr News Agency reported.

Iran discovered 13 new oil and gas fields with in-place reserves of 14 billion barrels of oil and 45 trillion cubic feet of natural gas during August 2009 to August 2010, Press TV reported.

Only between March and December of 2010, Iran discovered seven gas fields and more fields are anticipated to be discovered in the current Iranian calendar year (started March 20, 2012).

Iran is the OPEC's second-largest crude exporter after Saudi Arabia and sits on the second-largest gas reserves in the world after Russia.

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