News ID: 262351
Published: 0324 GMT December 01, 2019

Official raises possibility of finding new oilfield in SW Iran

Official raises possibility of finding new oilfield in SW Iran

The hydrocarbon exploration activities in Iran are expected to result in the discovery of a new major oil reservoir within the next few months, an official said.

Speaking to Tasnim News Agency on Sunday, Saleh Hendi, head of the Exploration Directorate of the National Iranian Oil Company, said a new oilfield is expected to be discovered in the southwestern province of Khuzestan by the end of the current Iranian year (March 20, 2020).

Hendi said estimates show that the new reserve would be quite similar to the Namavaran oilfield, whose discovery was announced by President Hassan Rouhani last month.

The new oilfield would probably straddle an area near the Ab-Teymour and Sepehr oilfields, he added.

Offshore exploration activities are also underway in the Persian Gulf, but expectations are low for big discoveries in that area, Hendi added, noting that the Caspian Sea is the only region where Iran is not doing any hydrocarbon exploration activities.

On November 10, Rouhani said efforts by the National Iranian Oil Company since 2016 had resulted in the discovery of a new oilfield with an estimated reserve of up to 53 billion barrels of oil.

The massive oil reserve lies in an area of 2,400 square kilometers and extends to a depth of 80 meters in a region between the towns of Bostan and Omidieh in the province of Khuzestan, the president added.

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