Iran claims to be world’s second nation in oil and gas reserves

Jul 04, 2004 02:00 AM

Iranian Minister of Petroleum Bijan Namdar Zanganeh announced that Iran was the world-second nation in terms of oil and gas reserves after Saudi Arabia.
"Explored reserves of two large oil and gas fields brought Iran to the world second place in terms of oil and gas reserves," he told.

He estimated gas reserves near the island of Lavan at 251 bn cm, with the anticipated revenue of $ 7 bn.
"Yadavaran oil field in southwest Iran, province of Khuzestan, is worth up to 17 bn barrels of oil, with the anticipated production rate of 300,000 to 400,000 bpd," he added. Yadavaran is now on tender, he said. Invitations were sent to Total (France), Shell (UK/The Netherlands), and other well-known companies from China, India, Spain, and Italy. The deadline has not been defined yet.

Zanganeh did not rule out that American companies could also be invited.
"If the Americans want to engage in the tender for the development of the field, there is no problem. However, we will not give any information on this field until we make sure that these companies are free of the US Administration's embargo on cooperation with Iran," the minister said.

Source: Russian Information Agency Novosti
Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.

Cover_242-width

The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


 

Upcoming Conferences
« May 2019 »
May
MoTuWeThFrSaSu
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31

Register to announce Your Event

View All Events