SHAFAQNA (Shia International News Association) – Hormoz Qalavand, Managing Director of the National Iranian Oil Company’s (NIOC) Exploration Department said on Sunday a huge natural gas reserve has been discovered in south of Iran.
“He have started drilling the exploration oil wells in order to estimate the volume of this new gas reserve,” said Qalavand.
Despite the fact that the drop in oil prices is a serious threat to the interests of most oil countries, it nonetheless creates the opportunity for the great oil exporters like Iran and Iraq to concentrate their tasks on expanding their oil capacities and increasing supplies.
Under current situations and as oil prices have hit their lowest record since October 2009 as $60 per barrel, Iran has taken advantage of the temporary paralysis in oil and gas industry by launching exploration projects in the Persian Gulf.
Right now, Iran, with many large-scale natural gas condensate fields which include South Pars, Golshan, Ferdowsi, Arash, Homa and over 34 trillion cubic meters of exploitable reserves, holds the largest natural gas reserve in the world.
Exploration studies of the NIOC carried out recently have identified a new large-scale natural gas reserve in the south of Fars Province, near Bushehr. It is predicted that the reserve would extend all the way to Hormoz Strait in Persian Gulf.
“At this moment, testing and evaluating operations on the lower paleozoic formation are being carried out, which have ensured the existence of natural gas and gas condensates in the area,” maintained Qalavand.