Iran: Gas field discovered with $40 billion worth of reserves

15/10/2019 14:18 Natural Gas

news

A new gas field with 13,000 billion cubic feet of recoverable reserve and 385 million barrels of condensate, valued at $40 billion, has been discovered in Fars province, southern Iran.

The field, called Eram, is located in southern Fars province, Reza Dehqan, the National Iranian Oil Company’s deputy director for development and engineering affairs said. The gas recovered from the field is planned to be delivered to Parsian Gas Refinery in the province due to its close proximity to the field, he noted.

 

Referring to the numerous oil and gas field discoveries since the 1979 revolution, Dehqan said that 75 % of the country’s gas reserves as well as 20 % of its oil reserves have been discovered in the past 40 years.

 

“With 159 billion barrels of crude oil reserves and 34 billion cubic meters of gas reserves, Iran has the world's second largest gas reserves and also the world’s fourth largest oil reserves,” he said.

Source: neftegaz.ru

Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

08/07/2020 11:15:00

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.

<READ MORE

Denmark allows Nord Stream 2 to complete pipeline hit by US sanctions

08/07/2020 09:36:00

By allowing the usage of anchored vessels, the permit gives Nord Stream 2 more freedom of choice of Russian pipelaying vessels it can use for finalising construction

READ MORE

Simply Blue seeks to survey area for up to 1-GW Celtic Sea wind farm

08/07/2020 09:32:00

Simply Blue Energy is seeking permission to conduct survey activities near the Kinsale gas platform in the Celtic Sea for a potential offshore wind project of 988 MW that will be using the Windfloat platform.

READ MORE