The result of technical studies on Sardar-e Jangal oil and gas field off Gilan Province in the Caspian Sea and on the offshore exploratory blocks of 24, 26 and 29 submitted by Norway's Offshore Resource Group has widened the horizon for oil development ventures in the region, the deputy head of the National Iranian Oil Company said.
"If the figures presented by ORG are approved, Iran's in-place and recoverable hydrocarbon reserves will experience a dramatic rise," Gholamreza Manouchehri was also quoted as saying by NIOC's news portal on Sunday.
Iran boasts one the world's largest proven oil reserves of 158.7 billion barrels.
April 22, 2018 18:40
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Norwegian Studies Show Rise in Iran's Caspian Oil Reserves
Although oil extraction from southern onshore fields is less expensive, Caspian Sea oilfield development venture is always a high priority for the Oil Ministry
Iran is still deprived of the know-how to carry out deepwater drilling operations
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