Tehran (IP) - According to Wood Mackenzie Institute, Iran tops the world in oil exploration volume in 2019 by exploring 4,973 Billion barrels, Director of Exploration Department of the National Iranian Oil Company announced.

Iran Press/Iran News: Attending a press conference on Saturday, Saleh Hendi stressed that with an exploration of 2,7 billion barrels (13% of the world explored gas) in Eram Oil Field and 2,2 billion barrels( 10,5% of the world explored oil) in Namavaran Oil Filed, Iran was ranked first and third in world exploration in 2019.

"By exploring 4,97 billion barrels equivalent to liquid hydrocarbons, Iran National Oil Company tops the world, leaving behind Russia Gazprom, British Petroleum Company, and US ExxonMobil company," he added.

"Iran was ranked first among the big 15 oil companies in the world by exploring 4,973 billion barrels oil and gas in 2019," hendi highlighted.

Hendi went on to say that, nine giant discoveries in 2019 happened in Iran, Russia, Mauritania, Cyprus, Suriname, South Africa, and Malaysia which includes 75% exploration of the world.

12 explorations out of 20 giant explorations in the world, explored less than 500 million barrels deposit in 2019, the official noted.

Referring to the imposed sanctions on Iran, the official stressed that we will not stop and continue investing in risky sections like exploration.

The oil industry is dynamic and active, although exploration is a time-consuming activity and results after 6 or 7 years, he concluded.


Read more:

Exploration Atlas of Iran oil, gas fields unveiled

Oil exploration capacity still high in Iran