Iran Adds 1 trillion m³ to Gas Reserves

Iran has increased its gas in-place reserves by 1.8 trillion m³ to about 55.3 trillion m³.

The newly discovered oil and gas fields contain about 1.04 trillion m³ of recoverable gas, and bring the total amount of Iran’s extractable gas reserves now to 37.3 trilllion m³, the CEO of state-owned National Iranian Oil Company Ali Kardor said February.4, during a press conference in Tehran.

He added that the recovery rate of gas fields in Iran stands at about 69.62%.

He did not say when Iran discovered and proved the new oil and gas reserves, but the combination to two official documents, seen by NGW and Kardor's statement indicates that about a half of the newly discovered reserves date back to mid 2013-2016 and the rest occurred in 2H16.

NIOC chief executive Ali Kardor (Photo credit: Iranian Central Oil Fields Company)

According to the cited two documents, during 36 months of Hassan Rouhani’s presidency beginning in August 2013, Iran added 522bn m³ to its recoverable gas reserves.

In total, the proven reserves of 18 oil and gas fields or layers were determined during August 2013 to August 2016.

The new discovered oil fields also contain 15bn barrels of oil, of which 2bn are recoverable, Kardor said, adding that currently the total oil in-place reserves of Iran (including NGLs and gas-condensate) stands at 836.47bn barrels, of which 157.23bn are recoverable.

Iran’s crude oil (including NGLs and gas-condensate) recovery rate stands at 28.58%. Iran has already extracted 72.95bn barrels of its oil reserves.

Iran desk