News

Tehran Times Economic Desk

TEHRAN – The managing director of Iran
Central Regions Oil Company said that a 100-million barrel oil reserve
has been discovered in Alborz oilfield in Qom.

The Islamic Republic of Iran News Agency quoted Mehdi Fakour as saying
that this oilfield covers an area of about 600 square kilometers.

He said that his company plans to dig one well in the oilfield
this year to produce 2,000 barrels of crude a day.

He clarified that on the average only 20 percent of the oil in
any oilfield may be used.

Studies show that the oil in this field is of high quality