Tehran, October 06, 09 (Hamsayeh.Net) - Recent findings conclude that Iran’s Abuzar oil field has 1 billion barrels of petroleum reserves more than the earlier figures. National Iranian Oil Co. (NIOC) director, Seifollah Jashnsaz told the company’s website SHANA, yesterday.

 

Abuzar oil field is located in the southern part of the country near a major oil terminal on the Kharg Island in the Persian Gulf. According to Jahansaz, the corrent production of the field is around 150.000 b/d which should increase by another 7000 b/d to reach a total of 157.000 b/d.

 

Iran holds world’s largest hydrocarbon reserves with its volumes of oil and natural gas combined. The country’s reserves amount to 140 billion barrels of petroleum plus more than 30 trillion cubic meters of natural gas.

 

In August, Iran discovered a new field in Susangerd area with more than 9 billion barrels of oil in four layers.

 

Iran’s current oil production is around 3.8 billion barrels per day, equal to %5 of global production for this valuable commodity.