Iran’s Mansoori oilfield in-situ reserves up 1 billion barrels

Business Materials 27 July 2013 14:05 (UTC +04:00)

Azerbaijan, Baku, July.27/ Trend R.Zamanov

Further studies show that the in-situ oil reserves of Iran's southwestern Mansoori oilfield are around 3.1 billion barrels, which is billion barrels more than the previous estimates, the executive director of the project, Soltan Kamali said on Saturday.

The oilfield's oil extraction ratio is also 45 percent up, the ISNA News Agency quoted Kamali as saying.

"The oilfield's refining capacity has reached 100,000 barrels per day from the previous figure of 60,000 barrels," he said.

"Preliminary studies are underway to increase Mansoori oilfield's production capacity up to 150,000 barrels per day," Kamali added.

"The oilfield has produced over 86 milion barrels of oil during the past 6 years," he stated.

Mansouri oilfield is located about 60 kilometers north of the Persian Gulf and near the southwestern city of Ahvaz.

Proved Oil reserves in Iran, according to its government, rank third largest in the world at approximately 150 billion barrels as of 2007, although it ranks second if Canadian reserves of unconventional oil are excluded.

This is roughly 10 percent of the world's total proven petroleum reserves. Iran is the world's fourth largest oil producer and is OPEC's second-largest producer after Saudi Arabia.