"The gas field was discovered due to the efforts made by the oil industry staff at Amir Kabir semi-floating drilling rig. The gas reserves of the field are located 700 meters depth of Caspian Sea," he said.
Qasemi stated: "The reservoir’s capacity is several times more than predictions. While Iran’s gas reserves in the Caspian Sea were estimated about 11 trillion cubic feet, just gas reserves of the newly discovered field are several times bigger than the figure," Shana reported.
The Oil Minister noted that efforts to discover oil and gas reserves in the Caspian sea goes back to before the Islamic Revolution in 1979 adding currently 46 blocks have been identified mainly located in deep waters of which eight blocks are more important.
"The new phase of studies on the new gas reserves is underway by Khazar Oil Company. The company established to provide the infrastructures including terminals, berths and support facilities for discovering new oil and gas reserves in the Caspian Sea." he said.
Qasemi went on to say: "The discovery was achieved following more than 2400 meters drilling. The reservoir is completely within the Iranian side of the sea locating in the edge of Iran’s maritime border.”
Iran has already held the world’s second-largest gas reserves, with 29.6 trillion cubic meters, according to the BP Statistical Review of World Energy in June. Russia has the biggest reserves of the fuel.
In past years, Iranian oil and gas industry has been hit by rounds of sanctions imposed by the United States and its allies on the Islamic Republic. The move has caused international oil firms to avoid investing on Iran's energy projects. The circumstances have ultimately led Iranian officials to rely on national facilities and sources.
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