National Iranian Oil Company expands oil exploration

Oil&Gas Materials 6 November 2019 11:21 (UTC +04:00)

BAKU, Azerbaijan, Nov. 6

By Elnur Baghishov - Trend:

National Iranian Oil Company has extended exploration work to the east bank of the Karun River in Iran's Khuzestan province located in the south-west of the country, NIOC's Exploration Work Deputy Director Ali Muallimi said, Trend reports referring to the company's information portal.

After discovering the oil field on the Minu island of the province, it was found out that there is a hydrocarbon reserve on the east bank of the Karun River, Muallimi said.

The deputy director added that geophysical survey and seismic projects are underway.

Muallimi expressed hope that these surveys will result in new explorations.

Touching upon the well drilled on the Minu island, the deputy director noted that final data on the well's oil reserves will be known after six months of exploitation.

Muallimi added that the oil extracted here is send to Abadan Refinery.

According to the deputy director, 14 large exploration projects are being carried out in various parts of Iran with funds in the amount of about 200 million euros.