Iran Announces 2 Billion Barrel Shale Oil Find

 

The western province of Lorestan will be getting new attention from the Iranian oil ministry following the discovery of major shale oil reserves in the region, according to new reports emerging from the area.

The resources, found in the Ghali Koh field, totaled two billion barrels, Bahman Soleimani, the National Iranian Oil Company’s Soleimani said on Monday, citing a recent study. “The oil is light,” he described.

Other research on the area’s shale gas reserves will be completed by October 2017, the official added. Continue reading