NIOC discovered a new oil reservoir in southern Iran

National Iranian Oil Company Exploration Directorate (NIOCEXP) has discovered a new oil reservoir in the southwestern Dezful region, in Khuzestan province.

Iran Press/Iran News: "According to exploration studies and seismological surveys conducted in the exploratory region of North Dezful and Maroun, in the regions in western and eastern Sousangerd, reports are indicating the discovery of an oil reservoir,” NIOCEXP said.

Further reports said the deposits have been found in the Ilam and Gurpi formations which are extended in the provinces of Khuzestan, Lorestan, and Fars.

NIOC said the volume of the reserves and their types will be subsequently announced by NIOCEXP after further reviews.

The Gurpi Formation is one of the most important lithostratigraphic units in the Zagros foreland basin because of its significance in the petroleum geology of Iran as the source rock.

In December, NIOCEXP head Saleh Hendi said 35-40 new hydrocarbon reservoirs had been discovered across Iran, which needed development. “We are now ranked first in the world for oil and gas reserves," he said.

Hindi also said Iran was scouring 60 percent of its total area for new oil and gas reserves, including in places that were deemed until recently the least likely to have hydrocarbon-bearing formations.

In January, the country struck oil in Abadan, containing reserves of “very light and sweet”. The discovery on Minoo Island was the first-ever oil find in the general area of Abadan which is home to Iran’s largest and oldest oil processing facility.

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