Iran says it discovers two new gas fields: minister

13:37, July 06, 2010      

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Iran's oil minister said Monday that two new gas fields were discovered respectively in the Persian Gulf and in the northeastern Iranian province of Khorassan Razavi, the local satellite Press TV reported.

"A new gas field with in-place reserves of 700 billion cubic meters of natural gas has been discovered 30 kilometers southeast of Kish Island (in the Persian Gulf)", Masoud Mirkazemi was quoted as saying.

Mirkazemi told reporters that "the gas field spans an area of 588 square kilometers. If developed, it will be able to produce 70 million cubic meters of gas daily", according to the report.

Meanwhile, he announced the discovery of another new gas field in Khorassan Razavi province with in-place reserves of 62.5 billion cubic meters of natural gas, the report said.

The field can produce 4 million cubic meters of natural gas on a daily basis, Mirkazemi added.

Iran ranks second in world's discovered natural gas reserves, only after Russia, with 16 percent of the total. However, it is a net importer despite huge reserves.

Source: Xinhua


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