According to a report published by Fars News Agency, Iran has 600 billion barrels of oil, although not all of it is accessible. Senior Oil Ministry officials claim that only approximately 26% (or 156 billion barrels) is accessible for production. According to the Fifth Five-Year Development Plan, the reserve of accessible oil must be increased to 162 billion barrels by the end of the five-year period. Fars also claims that if the current level of production is maintained, Iran’s oil reserves will last at least another 116 years.
According to the Five-Year Development Plan, Iran must increase the amount of accessible oil
- Published: 353 days ago on Thursday, 31 May 2012
- By: Iran Daily Brief
- Last Modified: May 31, 2012 @ 2:23 pm
- Filed Under: Economy
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