Iran discovers hydrocarbon reserves equaling 14 billion barrels of crude oil over 9 months
Azerbaijan, Baku, Jan. 21 / Trend F.Mehdi/
Iran has discovered hydrocarbon reserves, tantamount to 14 billion barrels of oil and gas, during the first nine months of the current Iranian calendar year (March 20-December 20, 2012), the Shana News Agency quoted deputy oil minister Mohsen Khojesteh-Mehr as saying.
The fifth five-year development plan (2010-2015) has envisaged investing in the development of 57 oilfields, he added.
A huge natural gas field has been discovered in northeastern Iran, the Mehr News Agency quoted Central Oilfields Company Managing Director Mehdi Fakour as saying on Friday.
According to BP's annual statistics, Iran's gas production (excluding flared and recycled gas) in 2011 was 153.3 billion cubic meters (some 420 million cubic meters per day), while the consumption volume was 151.8bcm in 2011, indicating a 1.5bcm negative balance.
In December, 2012, Iran's deputy oil minister said that Iran's proven crude oil and natural gas reserves are worth around $37 trillion.
The reserves include 100 billion barrels of crude oil, 94 billion barrels of condensates, and 207 billion barrels equivalent of natural gas, he explained.
Iran's daily gas output is projected to hit 1.4 billion cubic meters by 2015.
Next to Venezuela, Saudi Arabia, and Canada, Iran ranks fourth worldwide with 155 billion barrels of recoverable oil reserves.
With 34 trillion cubic meters of natural gas reserves, Iran has the world's second-largest natural gas reserves after Russia.