Middle East Economic Survey

VOL. XLVII

No 28

12-July-2004

IRAN

Iran Announces Two Offshore Gas Discoveries

Iran has made two offshore natural gas discoveries, according to reports of 22 June citing an unnamed oil ministry source quoted by the IRNA news agency. The Lavan 2 discovery is located below Lavan Island, and has estimated reserves in place of 200bn cu ms (7 trillion cu ft) of gas. A second discovery is a gas formation below the Balal oilfield, for which no reserves estimate was given, and...