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Iran opens largest Mideast gas injection project
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20:01, June 08, 2009

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The largest gas injection project in Mideast was inaugurated on Monday in Iran's southwestern province of Khuzestan, the official IRNA news agency reported.

The inauguration ceremony, attended by Iranian Oil Minister Gholam-Hossein Nozaria and other Oil Ministry officials, was held in the Aghajari oilfield, situated some 125 km away from Khuzestan's capital city of Ahvaz, said the report.

The project aims at "injecting two billion cubic feet of natural gas per day in order to increase the production of Iran's crude oil by 130,000 barrels a day," which, according to Nozari, "would be one of the best ways to maximize the use of oil reserves."

According to Oil and Gas Journal, as of January 2009, Iran has an estimated proven oil reserves of 136.2 billion barrels, or roughly 10 percent of the world's total proven petroleum.

Iran is OPEC's second-largest exporter after Saudi Arabia, and the fourth-largest exporter of crude oil worldwide after Saudi Arabia, Russia and Norway.

Source: Xinhua

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