Iran ranked 1st in world hydrocarbon discovery in 2019

15 September, 2020

The National Iranian Oil Company (NIOC) ranked first among the world's largest oil companies in terms of total oil and gas discovery in 2019, with the discovery of 4.973 billion barrels of equivalent hydrocarbon reserves, reported the News Agency of Iran Oil Ministry.

According to a report published by the Wood Mackenzie, NIOC discovered 4.973 Bln bbls of oil equivalent extractable hydrocarbon reserves which put the company first among the world's major oil companies. This figure is equivalent to 31% of the total global volume of hydrocarbons discovery in 2019.

In Wood Mackenzie report, Iran’s Eram gas field, with 2.7 Bln bbls of oil equivalent of recoverable gas and Namavaran oil field with 2.3 Bln bbls of oil equivalent of recoverable oil took the first and third places of discoveries made in the world during 2019, respectively.

In another part of the report, it is stated that around 600 exploration wells were drilled and completed worldwide in 2019, which resulted in the discovery of about 220 hydrocarbon fields. During this period, two exploratory and appraisal wells were drilled and completed in Iran.

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