TEHRAN: Iran has discovered a large gas field with around 260 billion cubic feet (bcf) of in-situ reserve, of which 175bcf will be recoverable, National Iranian Oil Company managing director Ahmad Qalebani announced on Tuesday.
The gas field is located in the western province of Ilam, Iran’s Mehr News Agency (MNA) reported, citing the Fars News Agency.
Iran’s daily gas output is projected to hit 1.4 billion cubic meters by 2015.
With 34 trillion cubic meters of natural gas reserves, Iran has the world’s second-largest natural gas reserves after Russia.
On April 19, Iran discovered a new hydrocarbon layer in southern part of the country which contains huge amounts of light crude oil.
Preliminary studies showed that 26 million cubic feet of natural gas can be extracted per day from oil wells in the region, the Fars News Agency quoted National Iranian Oil Company official Hormoz Qalavand as saying.
Some 1.891 billion barrels of oil and 388 billion cubic feet of natural gas were discovered in the past Iranian calendar year, which ended on March 20.
Read more: Iran discovers gas field with 175 bil cubic feet of recoverable reserves – Latest – New Straits Times http://www.nst.com.my/latest/iran-discovers-gas-field-with-175-bil-cubic-feet-of-recoverable-reserves-1.274728#ixzz2Skga5yxA