Gulf Oil and Gas accountACCOUNT

Iran Recoverable Oil Reserves at 160bn Barrels

Source: www.gulfoilandgas.com 2/6/2019, Location: Asia

Iranís Minister of Petroleum Bijan Zangeneh said Tuesday the countryís recoverable oil stood at 160 billion barrels.

ďAlthough Iranís crude oil production has dropped from 5 mb/d [in 1979] to about 4 mb/d today, the significant point is that the countryís recoverable liquid hydrocarbon reserves has increased from 88 billion to 160 billion barrels now,Ē he told a press conference.

He said that more than 50 billion barrels of oil had been recovered in the past four years.

Zangeneh also said Iranís recoverable gas deposits had grown to 33 tcf from 9 tcf over the past four decades.

ďThere was almost no gas industry before the [1979 Islamic] Revolution and only 36 mcm/d was processed at the Bidboland refinery. Today, this figure has been multiplied by 30,Ē the minister said.

Zangeneh also said that Iranís gas condensate production had reached 750,000 b/d from nothing in 1979.

The minister also touched on the petrochemical sector, saying Iran was selling more than 30 million tonnes a year of petrochemical products, which is valued at $17 billion.

Zangeneh said Iran had outdone Qatar in recovery from the giant offshore South Pars gas field and surpassed Iraq in production from jointly owned oil reservoirs.

He said that production from the jointly owned oil fields in West Karoun would reach 350,000 b/d in March, up from 70,000 b/d in 2013.

Zangeneh said an oil terminal would become operational in Jask for export outside the Persian Gulf region by March 2021.

The minister also boasted that Iranís gasoline production had risen from 52 ml/d five years ago to 105 ml/d now.

The official further announced Iranís natural gas production capacity would reach 1 mcm/d in the future.

Crude Oil News in Iran >>

Indonesia >>  7/17/2019 - Mubadala Petroleum announces that it has signed an agreement with Premier Oil to farmout a 20 percent participating interest in each of the Andaman I...
Russia >>  7/15/2019 - Global drilling and engineering contractor KCA Deutag KCAD) is delighted to announce that its land drilling operation has won three new contracts in R...

Russia >>  7/9/2019 - From 16 July to 30 July 2019, Nord Stream AG will temporarily shut down both lines of its gas pipeline system for routine maintenance works. The maint...
Kazakhstan >>  7/5/2019 - The Kazakh Ministry of Energy, KazMunayGas (KMG) and Eni signed a protocol of direct negotiations to grant the subsoil use right for exploration and p...

Russia >>  7/3/2019 - On July 1, the Gazprom Group signed a five-year contract to purchase natural gas from Turkmengas (for the period through June 30, 2024). According to ...
India >>  7/2/2019 - McDermott International, Inc. has completed the first of two offshore campaigns for Reliance Industries Ltd. KG-D6 R-Cluster subsea field development,...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.