The meeting of the exploration manager with reporters

In a press conference held on Tuesday, The NIOC Exploration Director, Mehdi Fakoor, explained the recent efforts which have been made on discovery of the new oil and gas resources in southwest Iran in the past year. “According to assessments of the reliable international references, Russia, Iran and Saudi Arabia holds the world’s largest undiscovered conventional oil and gas resources, whereas in the other countries of the region, the oil and gas exploration comes to an end in the near future”, Mr. Fakoor said. He added that “the high ranked investment attraction and continuity of the oil and gas production would be the significant outcomes of such huge exploration potential”.

Mr. Fakoor stated that “Iran and Iraq holds the largest oil and gas exploration potential in the [Middle East] region”. “The undiscovered hydrocarbon resources of Iran is estimated to be about 16 billion barrels which is important in terms of the country development and attraction of the foreign investment” Mr.Fakoor said.

  He pointed out that “the Energy is critical component in the economic prosperity, and the top rank potential of oil and gas exploration of Iran in the region would be a positive signal for the foreign investors to consider the Iran as a profitable market”.