IOOC makes Persian Gulf discovery

Iranian Offshore Oil Co. (IOOC) has discovered a new oil reserve in the Farsi oil field in the Persian Gulf, which could yield over a billion barrels in reserves, according to a local news source.

Offshore staff

TEHRAN -- Iranian Offshore Oil Co. (IOOC) has discovered a new oil reserve in the Farsi oil field in the Persian Gulf, which could yield over a billion barrels in reserves, according to a local news source.

The company is currently negotiating a deal with ONGC for the expansion of the field, the source says.

02/09/2009

More in Drilling & Completion