Sarvestan and Sa’adatabad oil fields are to be inaugurated in a ceremony attended by senior government officials and oil industry managers with the goal of producing 15,000 barrels of oil per day (bpd).
Iran is estimated to earn USD1.5 million per day in revenues from the fields located in the southern province of Fars.
Sarvestan oil field is located 150 kilometers southeast of the city of Shiraz. Twenty kilometers to the north of Sarvestan is located Sa’adatabad oil field. Covering an area of 242 square kilometers, both fields are estimated to hold 1.402 billion barrels of in-place oil.
Iran's total in-place oil reserves have been estimated to be more than 560 billion barrels, with about 140 billion barrels of recoverable oil.
Moreover, heavy and extra-heavy varieties of crude oil account for roughly 70-100 billion barrels of the total reserves.
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