News ID: 275677
Published: 0410 GMT October 18, 2020

Official: Iran to announce discovery of new oilfield soon

Official: Iran to announce discovery of new oilfield soon

Domestic Economy Desk

The National Iranian Oil Company (NIOC) will announced the discovery of a new oilfield called ‘Yalda’ in coming weeks, said the deputy head of the NIOC’s Exploration Directorate.

Ali Moallemi told ISNA that the exploration activities have been completed, adding the discovery will be announced if everything goes on favorably.

He added the oilfield is located 30 kilometers east of the South Pars (SP) Gas Field in southern Iran and will be of great contribution to the SP if the results of the tests on the field are positive.

Moallemi said the field’s proximity to the SP has many advantages and helps accelerate the process of starting production from the oilfield.

He expressed hope that the exploration project would produce a positive outcome as the field is a strategic one.

Moallemi said, “At present, we are in the testing stage. The NIOC and Pars Oil and Gas Company are cooperating with us and practically involved in the project which helps us announce the result as soon as possible.”

All exploration stages have not gone through completely, he stressed, noting, “We have reached a gas layer at the depth of 4,500 meters.”



Resource: ISNA
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