Iran to explore in 3 blocks

The National Iranian Oil Company's Director for Exploration, Hormuz Qalavand, said NIOC's exploration operations would focus on three blocks. Qalavand said the blocks were Garmsar, Dair and Moghan. He added that the NIOC discovered 1.891 billion barrels of recoverable oil and 388 billion cubic feet of recoverable gas in 158 blocks last year. He said NIOC specifically had discovered a formation rich in hydrocarbon. Regarding non-conventional hydrocarbon reserves, Qalavand said studies are under way in the Sea of Oman. The official stated that nearly 5.5 trillion rials is to be allocated to NIOC for exploration activities.