Iran Cooperating With German Firms for Shale Project

A senior Iranian energy official has disclosed that the country is cooperating with Chinese and German energy firms in shale gas and oil projects, reported Fars News Agency.

"We are negotiating with Germany to use their advanced technology for the hi-tech section of Lorestan shale projects," Hormuz Qalavand, the exploration director of the National Iranian Oil Company (NIOC), told the news agency on Saturday.

Qalavand added that Iran is also cooperating with a Chinese company on the hi-tech parts of its gas hydrate project in the Sea of Oman.

Iran has vast shale oil and gas reserves in the West and the South.

In January, Iranian Oil Minister Bijan Namdar Zanganeh said he does not perceive shale or tight oil as a threat to OPEC, Fars News said.