Iran discovered oil from second exploration well on field in Caspian Sea

Iran discovered oil from second exploration well on field in Caspian Sea

Baku, Azerbaijan, March 3

By Tamkin Jafarov - Trend:

Oil was discovered at depth of 2440 meters on the second exploration well on the field "Sardar Jangal", KEPCO director for exploration affairs Yousef Etemadi said, IRNA new agency reported on March 2. This field is located in Gilan province.

According to Etemadi, exploration drilling on " Sardar Jangal " field will be completed till June 2014.

"Our goal is geting oil from a depth of 4022 meters, and we hope to get more oil from deep reserves. We will try in the future 4-5 years to get from the field 20 thousand barrels of oil" Etemadi said.

Etemadi did not clarify time that scheduled to produce a given volume.

Iran conducts exploration works on different blocks according to the priority and now drilling is going on the eastern side of the field, he added.

According to the latest announcement, Iran's Oil Ministry claimed that the Sardar-e Jangal field's discovered oil and gas layers hold in total two billion barrels of light crude oil alongside with 50 trillion cubic foots of gas reserves (equals to 1.4 trillion cubic meters).

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