According to the Public Relations Office of the Research Institute of Petroleum Industry (RIPI), quoting the Oil and Energy Information Network “SHANA,” Mohsen Paknejad, the Minister of Petroleum, announced the discovery of large gas and oil reserves in the “Pazen” field located in the southern part of Fars Province.
He added that this field, with reserves of 10 trillion cubic feet of gas, can play a significant role in addressing the country’s energy imbalance in the coming years.
After nearly eight years of suspension in exploration activities at this field, exploration operations on the second well have now resumed.
The development contract for the Pazen oil and gas field has been awarded, and executive operations are expected to commence soon.
It is estimated that within about 40 months, production from this field will become possible.
A remarkable point about this field is that, for the first time, during the continuation of exploration operations, colleagues from the Exploration Directorate of the National Iranian Oil Company (NIOC) have drilled into a horizontal layer containing at least 200 million barrels of crude oil. Naturally, with further complementary studies in the next phases of exploration, there is a potential for discovering even larger volumes of reserves.
