Iran’s southern oil reserves up by 2.5 billion barrels
Tehran, Iran, March 1
By Mehdi Sepahvand - Trend:
The amount of known in-situ and extractable oil reserves in southern Iran has increased by 2.5 billion barrels, Ramin Roghanian, an official with Iran South Oil Company said.
He noted the increase was discovered following 34 study projects in the said areas, Shana news agency reported March 1.
He explained fields with big oil caps, untapped, and recently tapped reserves make up 13 percent of the oil in Iran's southern oil fields.
By holding 157.8 billion barrels of recoverable crude oil reserves, Iran possesses the world's fourth largest reserves of crude oil.