Iran claims major oil find in Caspian Sea

Offshore staff

TEHRAN, Iran – National Iranian Oil Co. claims to have discovered large volumes of oil while drilling in the southern sector of the Caspian Sea.

Khazar Exploration and Production Co. drilled the well, which intersected an oil layer 24-30 m (79-98 ft) thick, at a subsurface depth of 2,460 m (8,071 ft). Drilling operations continue.

Preliminary reserve estimates, according to Iranian news service Shana, are 8-10 Bbbl.

The oil was discovered during drilling of a claimed supergiant gas field, a program under way since December.

Details were announced as Iran’s Petroleum Minister Rostam Qasemi visited the semisubmersible Amir Kabir.

5/21/2012

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...