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Report: Iran poised to hit new oil reserves

Report: Iran poised to hit new oil reserves

Iran is poised to strike a new oil gusher in an offshore field which the country shares with the UAE in the Persian Gulf, an official says.

Report: Iran poised to hit new oil reserves

 

 
 
New discovery drillings in the Salman field have led Iranian prospectors to a new hydrocarbon-bearing formation which most probably contains oil reserves, an official with the Iranian Offshore Oil Company (IOOC), Kambiz Moradi, said.
 
The field lies within the Lavan zone which also contains such reservoirs as Reshadat, Belal and Resalat.
 
Salman’s most important oil layer is Sormeh which has been in production for about 50 years. Moradi said Sormeh has been producing 12,000 barrels per day of additional oil since March 2015 after the drilling of four new wells.
 
Iran has been spudding new wells at Salman to raise output to 50,000 bpd, according to media reports.
 
The official did not give figures on estimated reserves or production rates for the new field, but said initial surveys showed it is smaller than other Salman oil layers.
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