Dec 12, 2017, 8:01 PM
News Code: 82761474
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Iran extracts 715m barrels of oil in west of Karoon

Tehran, Dec 12, IRNA – Director of the Integrated Planning and Director at National Iranian Oil Company Karim Zobeidi says out of about 87 billion barrels of in-situ oil reserves west of Karoon, 715 million barrels of oil have been extracted.

Petroleum Ministry website quoted Zobeidi as saying that West of Karoon area, containing common and uncommon fields, is estimated to contain about 87 billion barrels of oil reserves and considering 15 percent recovery coefficient on the average, over 13 billion barrels of oil can be extracted from the region.

Out of the reserves, 715 billion barrels of oil, i.e less than one billion barrels of oil, have been extracted, he added.

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