BAKU, Azerbaijan, Apr.4
By Elnur Baghishov – Trend:
The Hirkan oil and gas exploration well in the Golestan province (northeastern Iran) is being drilled at the expense of the state-funded, Governor of Golestan Province Hadi Haghshenas said, Trend reports citing the governor office’s website.
He made the remark in an event dedicated to the drilling of Hirkan 1 exploration well.
The governor emphasized that a total of 15 million euro and 45 billion rials (about $1.07 million) will be spent on the drilling of well.
Haghshenas added that the depth of the well will be 3,200 meters and it will be drilled over 9 months.
“In connection with the exploration of oil and gas in Golestan Province, 12 wells have been drilled so far, 10 of which have not yielded results, and 2 wells are not economically viable,” he said.
Iran currently has 125 oil and 59 gas discovered fields. The country's total hydrocarbon reserves are estimated at 836 billion barrels. With available technology and equipment, Iran can extract 239 billion barrels. Thus, 29 percent of the country's hydrocarbon reserves are recoverable, while 71 percent remain underground.
