Iran Discovers Oil, Gas Fields - Ministry

LONDON (Dow Jones), Feb. 8, 2010

Iran has discovered an oil field and a gas field, the Oil Ministry's news agency said late Saturday.

Shana quoted Petroleum Minister Masoud Mirkazemi as saying the gas field, called Halegan and located in the Fars province, has the capacity to yield 50 million cubic meters of gas a day for 20 years.

The Halegan development has the potential to generate more than $80 billion in revenue for the country at current prices, he said.

The Somar oil field, in the province of Kermanshah, has oil-in-place reserves estimated at 475 million barrels, 70 million of which could be recovered, the minister said.

Copyright (c) 2010 Dow Jones & Company, Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Maintenance Controls Technician
Expertise: Maintenance Technician|Rig Mechanic
Location: Eighty Four, PA
Maintenance Supervisor - Drilling
Expertise: Maintenance Manager|Rig Mechanic
Location: Eighty Four, PA
Whipstock Welder
Expertise: Rig Welder|Welding|Workshop
Location: Lafayette, LA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours