Iran ups volume of oil and gas reserves

Oil&Gas Materials 1 March 2010 16:44 (UTC +04:00)

Azerbaijan, Baku, March 1 / Trend /

Iran has explored about 19 new oil fields and reservoirs, as well as eight gas fields and reservoirs under the fourth national development program, National Iranian Oil Company's Director for Exploration Work Mahmoud Muhaddis said

Estimated value of these fields' reserves totaled $633 billion, SHANA reported.

He said the company has held exploration work worth $303 billion on oil and gas condensate fields and $330 billion on gas fields.

About $1,160 billion were spent on the drilling of wells, he said.