National Iranian Oil Company working on exploration projects
BAKU, Azerbaijan, Feb. 26
By Elnur Baghishov - Trend:
The National Iranian Oil Company is working on the projects to continue exploration operations in a number of regions, Deputy Director of Department for Exploration Operations of the company Ali Mualimi said.
“Gravimetry and magnetometry operations are being conducted in Abadan county of Iran’s south-western Khuzestan province,” Mualimi added, Trend reports referring to the company’s website.
“The operations advanced by 75 percent until February 19,” the deputy director said. “Similar operations were carried out in Iran’s north-eastern Razavi Khorasan province. These operations advanced by 48 percent until February 19.”
“In accordance with seismological data, the exploration operations were carried out in collaboration with a foreign contractor in Dezful county of Khuzestan province,” the deputy director said. “These operations advanced by 17.8 percent until February 19.”
"The operations are underway upon two seismological research agreements in Khuzestan and Kohgiluyeh and Boyer-Ahmad provinces," Mualimi said. “The contracts were signed to hold the operations in Mokran county of Hormozgan province and Zarrinekuh county of Razavi Khorasan province and the work on these two projects will begin soon.”
“Seismological, gravimetry and magnetometry tenders are planned to be held on an area stretching 6,000 square kilometers in Abadan county of Khuzestan province,” the deputy director added.
“Presently, seven geophysical projects are being implemented and there will be 10 projects in the next two months,” the deputy director added. “The funds required upon the contracts for the projects reach around 55.7 million euros.”
In general, there are 125 oil fields and 59 gas fields in Iran. Iran's total hydrocarbon reserves reach 836 billion barrels. By using the technological equipment, 239 billion barrels may be extracted. Iran may use 29 percent of reserves while 71 percent remain underground.