Oil Ministry: Iran Central Zagros Region May Hold 50B Barrels of Oil

TEHRAN (Dow Jones Newswires), July 9, 2008

Iran's Central Zagros region may contain up to 50 billion barrels of oil, the oil ministry's official Shana Web site reported Wednesday, citing a senior oil official.

Fereydoun Salehi, who manages exploration plans for the Iranian Central Oil Fields Company, said seismographic and geological studies show the Central Zagros region as having numerous large oil fields, Shana said.
Salehi said the region also has several oil traps with a projected capacity of 50 billion barrels of oil, according to Shana.

The senior oil executive said there are about 40 points due for exploration, drilling and development operations in the area, with some to be drilled this year and others during the following year, Shana reported.

Copyright (c) 2008 Dow Jones & Company, Inc.

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