Pars Oil & Gas Persian Gulf oil reserves hit 96 billion bbl


 Pars Oil & Gas Persian Gulf oil reserves hit 96 billion bbl

TEHRAN -- Iran Daily cited Mr Mohamoud Zirakchianzadeh MD of Iran Offshore Oil Company as saying that the volume of Iran's in place oil reserves in Persian Gulf excluding those of South Pars' oil layers are estimated at 96 Bbbl.

Mr Zirakchianzadeh said that the development projects of 17 joint oil and gas fields of the country are managed by IOOC. About $28 billion worth of agreements have been signed in the upstream sections of the oil industry since the year to March 2007 till now.

He said that the oil storage capacity of the regions managed by IOOC has exceeded 3 MMbbl and the figure is expected to hit 8.1 MMbbl in the H1 of the next Iranian year, 5 Bbbl of which pertain to Behregan Oilfield in Bushehr province. Drilling operation of the onshore section of Kish Gas field has been completed adding the field will produce 70 MMcmd to 100 MMcmd.

Mr Zirakchianzadeh said that the gas field is expected to meet the requirements of Kish Island some 50 MMcm of gas will be transferred from the gas field to Siri Island in Hormuzgan province.

He said that once the natural gas liquids production unit of Siri Island located in southern Hormozgan province, become operational, it will provide the gas requirements of Qeshm and Kish Islands and produce 7,500 tons propane, 3,500 bbl of butane, 1,350 bbl of pentane and 1,300 bbl of gas condensates per day.


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