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Iran’s proven oil deposits put at over 132 billion barrels

Albawaba | June 30, 2005

Exploratory operations have been performed on only some 30 percent of the oil deposits in Iran, thus, more exploratory works should be carried out in this regard, stated vice chairman of the National Iranian Oil Company (NIOC).

NIOC has the required potentials and abilities to explore oil and other hydrocarbonaceous resources in the 1,000,000 square kilometers of the oil deposits in the country, Iranian Students News Agency quoted Mehdi Hosseini as saying. Iran

He said, “Iran’s proven oil deposits have officially been put at over 132 billion barrels, 102 billion barrels of crude oil plus 30 billion barrels of liquids, and the figure has been registered by OPEC (Organization of Petroleum Exporting Countries) too.”

He rejected some estimates that put Iran’s exploitable crude deposits at about 40 billion barrels.

 

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