Iran discovers world's 3rd largest gas field in Iranian Caspian Sea with 50 Trillion Cubic Feet gas

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Caspian Sea gas reserves in Iran's territorial waters

Press TV Reports that Iranian Oil Minister Rostam Qasemi has said, Iran has discovered a natural gas field with a reserve of about 50 trillion cubic feet in its territorial waters of the Caspian Sea. “The gas reserves of the field are estimated to be several times more than previous estimates”, the official website of Iran's Oil Ministry, SHANA, quoted Qasemi as saying on Sunday. Qasemi said that previously, Iran's natural gas reserves in the Caspian Sea were estimated at about 11 trillion cubic feet, but the reserves of the new field have put the figure at several times more than the previous number. He added that the new gas field is not a joint field and is located within Iran's maritime border. 

Earlier in August, Managing Director of the National Iranian Oil Company (NIOC) Ahmad Qalebani said a new gas field was discovered in eastern Asalouyeh in Boushehr province. The gas field, named Madar which is located 15 kilometers east of Asalouyeh, has reserves of about 495 billion cubic meters of gas, Qalebani said. In June, Iran discovered Khayyam gas field with in-place reserves of 277 billion cubic meters of natural gas in the southeastern port city of Asalouyeh. The Islamic Republic discovered 13 new oil and gas fields with in-place reserves of 14 billion barrels of oil and 45 trillion cubic feet of natural gas from August 2009 to August 2010, Iran's Oil Ministry reported. It has the world's third largest oil reserves and second largest gas reserves.

(Press TV)

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