NO. 23



Iran Drills Exploratory Well in North Field Gas Reservoir

Iranian Oil Minister Gholamreza Aghazadeh announced on Tehran radio on 6March that Iran had drilled an exploratory well in the North Field gasreservoir, which straddles its border with Qatar in the Gulf. The gas reservoiris one of the largest in the world, with proven gas reserves of around 150trillion cu. ft. Mr. Aghazadeh said Iran would invest $1.5bn in order to extract1bn cu. ft. of gas and 50,000...