Iran finds 11.4T cubic feet of new gas

Iran's former oil minister has said the country's natural gas reserves will get an 11.4 trillion cubic feet boost after new fields were found.

Iran finds 11.4T cubic feet of new gas
Iran's former oil minister has said the country's natural gas reserves will get an 11.4 trillion cubic feet boost after new fields were found.

Kazem Vaziri Hamaneh, who was removed from the ministry post over the weekend, announced the find before he left.

"Once drilled, the 17 wells in the new reservoir will be able to produce 30 million cubic feet of gas per day," Hamaneh said, Business Intelligence Middle East reports.

Iran holds 950 trillion cubic feet of natural gas reserves, second only to Russia, but has trouble with investment in its sector now that U.S. pressure over its alleged nuclear program has increased.

The new field is near Qir-Karzin, in Fars, the third new find in two years.

Iran is attempting to increase its production and exports, thus income, and has made limited progress on two fronts. It is moving forward with a plan to service India and Pakistan as well as send gas to Turkey, both via new pipelines.

UPI
Last Mod: 15 Ağustos 2007, 10:24
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