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

15/10/2019 14:18 Natural Gas


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.


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