Based on the results of recent geological prospecting work, oil
reserves in Iran reached 159 billion barrels, which is the third largest
reserve in the world after Venezuela and Saudi Arabia, director of exploration
department of the National Iranian Oil Company Hormoz Qalavand told economic
conference, ForUm correspondent reports.
According to the expert,
approximately $ 450 million have been allocated in 2013 for oil exploration. It
is planned to drill the wells of a total depth of 23 km to explore about 400
million barrels of oil and 125 billion m3 of natural gas.
Qalavand specified that 6
land drilling rigs are used for exploration, mainly concentrated in the border
areas. At the end of May, it is planned to install the offshore platform in the
Arabian Gulf.
Head of the Iranian Oil,
Gas,& Petrochemical Products Exporters Association Hassan Hosroudzherdi
added that in view of ongoing projects, earnings of petrochemical industry in 5
years may overshadow traditional earnings of this industry. “These two
industries complement each other. We pay much attention to the implementation
of petrochemical projects and the construction of new refineries. If it is
decided to abandon the export of raw materials, the flow of foreign funds into
the state treasury may be secured by the export of petrochemical products at
the level of income from the export of crude oil,” the expert noted.
Hosroudzherdi added that the
private sector produced the largest share in the petrochemical industry. In
addition, the development program of Iran tasks tocome out on top in the region
in the production of petrochemical products, it is also planned to increase the
requirements for its quality.
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