Abdolmohammad Delparish, Director of department for planning of the Iranian National Oil Company, said that the five-year program of 2011-2015 involves development of the Ferdousi oil heavy oil field, largest in the Middle East, IranNews reports.
Development of the field will require major investments. Iran has a total of 560 billion barrels of oil reserves, about 140 billion are extractable. It also has about 70 billion barrels of heavy and extra heavy oil.
The national company plans to develop the oil fields of Azadegan, Yadavaran, North Azadegan, Zage, Ferdousi, Bushgan and Kukhe-Kaki. Negotiations are held with China, Australia and Ukraine. Hormozgan Province has refineries with a cap of 300,000 barrels daily, Huzistan Province – 180,000 barrels.
