Baku, Azerbaijan, Feb.26
By Fatih Karimov - Trend: New oil and gas reserves have been found in central parts of Iran, the Mehr News Agency quoted National Iranian Oil Company's exploration director Hormuz Qalavand as saying on Feb. 26.
The oil minister will officially announce results of the new explorations in the near future, he added.
National Iranian Oil Company has said in its latest report that the country holds 33.7 trillion cubic meters of natural gas and 157 billion barrels of recoverable oil reserves.
NIOC plans to explore 450 million barrels of new oil reserves and 125 billion cubic meters of new gas reserves by the end of the current Iranian year (March 20).
Iran holds $30 trillion worth of hydrocarbon resources, including oil, gas and condensates, if we count each oil barrel at $100, Iranian deputy oil minister, Mohammad Reza Moghaddam said, Iran`s IRNA news agency reported on Jan. 23.
He went on to add that since the beginning of oil production in the country, about $8 trillion worth of hydrocarbon resources have been produced so far, with $30 trillion worth still remaining.
According to BP statistics, Iran holds the world's largest gas reserves, while being fourth in terms of proven oil reserves.
