Geological studies on Iranian oilfields show the country can boost proven oil reserves by at least 10% in the future, the deputy for engineering and development at the National Iranian Oil Company said.
“Fortunately, studies carried out on aged and newly-discovered oilfields indicate that we can enhance Iran’s recoverable crude reserves by at least 10% in the future,” Gholamreza Manouchehri was also quoted as saying by Shana, the Oil Ministry’s news agency, on Saturday.
The state-owned company has commissioned many domestic and international firms to study the geological characteristics of Iranian oilfields and estimate their in-place and recoverable resources.
According to the Oil & Gas Journal, Iran has an estimated 158 billion barrels of proven oil reserves, representing almost 10% of the world’s crude reserves and 13% of reserves held by the Organization of Petroleum Exporting Countries.
March 03, 2018 20:38
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Iran's Proven Oil Reserves to Rise by 10 Percent
Iran has an estimated 158 billion barrels of proven oil reserves, representing almost 10% of the world’s crude reserves and 13% of reserves held by OPEC
Iran’s petroleum sector needs $200 billion in new investments, most of which are expected to come from foreign sources
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