Iran announces the discovery of huge gas and oil reserves in the Bazen field

The Iranian Oil Minister, Mohsen Bak Nejad, announced the discovery of large gas and oil reserves in the Bazen field, south of Faris Governorate, where the invading reserve is estimated at about 10 thousand billion cubic feet, in addition to the presence of about 200 million barrels of crude oil in a horizontal layer reached during drilling operations.

The minister pointed out that the resumption of exploration work after a pause that lasted about 8 years allowed the determination of these reserves, with the expectation of the start of the extracts within 40 months. He added that this discovery is equivalent to the production of the southern Pars field for 17 to 18 years, and enhances Iran’s ability to cover local demand and energy balance in the coming years.

Back Ahmadinejad stressed that Iran has the second largest gas reserve in the world, noting that this achievement is huge and deserves to be thanks to all those in charge of exploration work.