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Iran discovers new gas field

Press TV – August 8, 2011

Managing director of the National Iranian Oil Company (NIOC) Ahmad Qalebani says a new gas field has been discovered in eastern Asalouyeh.

“The gas field, named Madar and located 15 kilometers east of Asalouyeh, has reserves of about 495 billion cubic meters of gas,” Qalebani said on Monday.

Qalebani estimated the value of the gas field at USD 133 billion, Fars News Agency reported.

In June, Iran discovered Khayyam gas field with in-place reserves of 277 billion cubic meters of natural gas in the southeastern port city of Asalouyeh in Hormozgan Province.

The Islamic Republic discovered 13 new oil and gas fields with in-place reserves of 14 billion barrels of oil and 45 trillion cubic feet of natural gas from August 2009 to August 2010, Iran’s Oil Ministry reported.

Iran has 137.6 billion barrels of proven oil reserves, and 29.61 trillion cubic meters of proven gas reserves. It has the world’s third largest oil reserves and second largest gas reserves.

August 8, 2011 - Posted by | Economics

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