Iran’s Oil Ministry has issued a report announcing the precise volume of discovered crude oil and natural gas reserves while the statistics indicate a significant growth in oil and gas discoveries over the 37 years of the Islamic Revolution.
Accordingly, by the end of the last Iranian calendar year, a total of 175.4 billion barrels of crude oil had been discovered in the country while the figure was about 87 billion barrels before the Islamic Revolution.
Moreover, the amount of recoverable gas reserves had been about 14 trillion cubic meters while the figure has reached 33.5 trillion cubic meters as a result of increased discoveries after the Islamic Revolution.
Over the first 70 years of oil production in Iran, a total of 28 billion barrels of oil had been produced while after the Revolution until the end of the previous year (1979-2015) more than 44 billion barrels of crude were produced.
Majority of the country’s gas fields have been discovered after the emergence of the Islamic Revolution with the accumulative volume of gas condensate production being about 8.48 billion barrels.
