Iran's oil and gas reserves to be worth $ 3,000 bn

Feb 12, 2002 01:00 AM

Iran's crude oil and natural gas reserves are estimated to be worth $ 3,000-bn, Deputy Energy Minister Reza Amrollahi was saying. "Iran's proven crude oil reserves are estimated at 100-bn barrels, which are worth about $ 2,000-bn if each barrel is calculated at $ 20", Amrollahi told a seminar on Iran's energy resources.
"Natural gas reserves are estimated at 26,000 bn cm, and taking each cm of natural gas at three to four cents, the total value of the country's oil and gas reserves will stand at about $ 3,000-bn", he added.

Iran sits on the world's second largest proven gas reserves after Russia, and has recently started delivering natural gas to Turkey and plans to export gas to Europe, India and China in the next few years. Iran is the second-biggest producer in the 11-member OPEC.

Source: AFP
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