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According to the Five-Year Development Plan, Iran must increase the amount of accessible oil

Thursday, 31 May 2012

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.

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  • Published: 3 years ago on Thursday, 31 May 2012
  • By: Iran Daily Brief
  • Last Modified: May 31, 2012 @ 2:23 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://www.farsnews.com/newstext.php?nn=13910310000603

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