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Iran report boosts Azadegan riches



By Upstream staff 

A new survey of Iran's Azadegan oilfield suggest it has more oil-in-place than previously expected, according to Iranian media reports published today.

Azadegan, in the south-western province of Khuzestan, is Iran's biggest oilfield. In-place reserves have previously been put at 26 billion barrels.

"In recent examinations in this joint field, the amount the field's oil-in-place reserves has increased considerably compared to expected figures," ISNA news agency quoted Shahabodin Hejri, a director of the field as saying.

Hejri did not give any further details about how much the field's in-place reserves were now believed to be.

"The amount of this field's oil-in-place will be announced in the future after current examinations are completed," Reuters quoted him as saying.

Japan's Inpex Holdings had been due to develop the field but talks collapsed last year, with the Japanese company citing spiralling investment costs. Inpex retains a 10% stake in the field.

India's Essar Group said in March it was in talks with Iran to take on the field's development but results have not been announced yet.


Friday, 22 June, 2007, 12:51 GMT  | last updated: Friday, 22 June, 2007, 12:51 GMT

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