Middle East Economic Survey

VOL. LI

No 11

17-March-2008

IRAN

NIOC Discovers New Oil Layer In Azadegan Field

The National Iranian Oil Company (NIOC) announced on 9 March the discovery of a new commercially viable producing layer in the Azadegan oilfield. The Ministry of Petroleums PIN news service quoted NIOC Director of Exploration Mahmoud Mohaddes as saying that the layer had estimated oil-in-place of 2.2bn barrels, of which the company thought 210mn barrels was recoverable. He added that the new...