Iran to Study Its Shale Gas, Oil Potential

Iran’s National Iranian Oil Company (NOIC) has started studies on shale gas and oil potential of the country.

‘Given holding huge conventional oil reserves in the country, we don’t need to invest on shale oil formations but Exploration Department should look at the future and plays an active role in finding new reserves’, NIOC’s director for exploration Seyed Mahmoud Mohaddes told Shana news agency. 

Mohaddes said the studies would be completed in next four upcoming years.

He added that some countries like the United States has huge reserves of shale gas but shale formations in Iran mainly contain oil.