AFP has quoted Iran’s oil minister as saying Sunday that Iran has discovered a new onshore gas field with reserves valued at US$50 billion.
Masoud Mirkazemi said that the Khayam field which lies east of the coastal village of Assaluyeh on the Arabian Gulf and 100km away from the major offshore Pars gas fields, has “260 billion cubic metres (9.18 trillion cubic feet) of gas, of which 210 billion cubic metres can be exploited, which is about 24 million cubic metres per day.”
Iran is OPEC’s second largest oil exporter and has the second-largest natural gas reserves after Russia.
Oil price
On the issue of current oil prices, according to the Iran Daily, the minister said he believes that $100 per barrel was is “appropriate” and does not warrant an emergency session of OPEC to discuss prices.
“The price of $100 for oil per barrel is real … OPEC does not need an emergency meeting over the price issue,” he said.
“None of the OPEC members find $100 concerning,” Mirkazemi said, adding that some members of the group would still not see any need for an emergency meeting if the price of a barrel of crude climbed to $110 or $120, the newspaper reported.
