Iran discovers 8.8 bn barrels of oil in Sousangerd field

Iranian Oil Minister Gholam Hossein Nozari announced discovery of 8.8 bn barrels of crude oil during recent drillings in the Sousangerd field in south-western Iran.
"The discovery of the oil field yielded success after drilling all the new layers in the depth of 5,026 meters was carried out in accordance with the timetable," Nozari said. "The volume of the expected and possible in-place reserves in the said layers amounts to 5.83 bn barrels of oil," he added.

The minister further pointed out that the oil field is the most giant field explored during last five years, reminding that the new discovery can play an effective role in increasing Iran's crude production.
Nozari also said that the ministry would prepare a development plan for the field in the near future, considering the field's adjacency to the installations and facilities of operational fields, and expressed hope that Iran can produce oil from Sousangerd oil field in the near future.

Informed sources at the oil ministry described the oil field as one of the richest discovered in recent years, saying that it holds exploitable reserves of 20,591 bn barrels of crude oil, 692 bn barrels of in-place gas liquefactions reserves and 24,283 bn barrels of in-place liquid hydrocarbon reserves. Also, the in-place gas reserves discovered in the oil field stand at 11,372 bn cf.
Iran has found 17 oil fields during the last 4 years.