Iran resumes negotiations on Caspian hydrocarbon reserves

Deputy oil minister for Caspian oil and gas reserves noted that Iran is more sensitive than other Caspian Sea littoral states in following up exploration operations in the sea.
Hamdollah Mohammad-Nejad noted that negotiations with Caspian states are going on to obtain information from border areas of the sea and study hydrocarbon capacities of those regions. He said if underway studies prove that those regions need more scrutiny, cooperation with other Caspian states would start.

The deputy minister noted that based on early estimates, the Caspian Sea enjoys 18-33 bn barrels crude oil, but more study is needed to pinpoint hydrocarbon reserves of the field.
He said two-dimensional seismography has revealed more than 42 exploration blocks, adding, "3-D seismography on the first block ended in recent months and exploration on other blocks will continue for more than a year."