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Iran finds 2 billion
barrels shale oil reserves in western province: agency
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 [February 18, 2017]
DUBAI (Reuters) - Iran has found
shale oil reserves of 2 billion barrels of light crude in its western
Lorestan province, a senior official at the state-run National Iranian
Oil Company (NIOC) was quoted as saying on Saturday.
"Based on studies, it is estimated that the shale oil reserves in Ghali
Koh in Lorestan amount to 2 billion barrels of oil in place,” Bahman
Soleimani, NIOC’s deputy director for exploration, told the
semi-official news agency Tasnim. "The oil is light."
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Soleimani said exploration was also being carried out for shale gas reserves in
the area, and the studies were expected to be completed by October, 2017.
Iran's proven oil reserves of about 160 billion barrels, almost 10 percent of
the world's total, rank it fourth among petroleum-rich countries.
(Reporting by Dubai newsroom,; editing by Sami Aboudi and Ed Osmond)
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