Iranian Caspian reserves rising, report suggests

Results from ORG’s recent studies of four exploration blocks in the Iranian sector of the Caspian Sea look promising, according to a report by news service Shana.

“If the Norwegian company’s estimates of hydrocarbon deposits in the southern part of the Caspian Sea are proven, we can be hopeful of increased in-place and recoverable hydrocarbon reserves,” said Gholam-Reza Manouchehri, deputy head of development and engineering at National Iranian Oil Company.

“The Ministry of Petroleum is looking for a comprehensive approach to develop the Caspian Sea in order to be able to attract investment and transfer technology while creating jobs and supporting domestic manufacturing,” he added.

Mr Manouchehri also said ORG had offered to help re-construct the Amir-Kabir rig to allow it to drill four to five wells in the Caspian Sea.

Source: Offshore Magazine