Tehran Times reported that considerable oil and gas reserves have been found in Khorramabad block of western Iran.

As per reported that seismic operations and geological surveys carried out by StatoilHydro there indicate it is more probable to hit huge natural gas deposits at the block.

National Iranian Oil Company and StatoilHydro signed USD 50 million deals in September 2006 for the development of Khorramabad block. The NIOC has recently discovered three oil and gas fields in Ilam, Fars and Khorasan provinces. Earlier, massive gas reserves were found in Kish gas field, located near the Persian Gulf Island of Kish and Azadegan oilfield.

According to the Oil and Gas Journal, Iran’s 2008 estimated proven natural gas reserves stand at 948 trillion cubic feet second only to Russia. Roughly two-thirds of Iranian natural gas reserves are located in non associated fields and have not been developed. Major natural gas fields include: South and North Pars, Tabnak and Kangan Nar.

(Sourced from Tehran Times)