Iran Discovers New Gas Field in Waters of Caspian Sea

Iran has discovered a new gas field with reserves of 50 trillion cubic feet in waters of the Caspian Sea, Iranian minister of petroleum, Rostam Qasemi announced .

Gas reserves of the field, which is, located 700 meters depth of Caspian Sea are estimated to be several times more than former estimations, Iran’s SHANA news agency quoted Qasemi as saying.

He went on to say 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 said that Iran was the only country in the Middle East that has access to the technology of drilling wells in deep waters.

The official noted that effort to discover oil and gas reserves in the Caspian sea goes back to before the Islamic Revolution in 1979 adding currently 46 blocks have been identified mainly located in deep waters of which eight blocks are more important.

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Subsea World News Staff , December 18, 2011