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Watching Government: EIA cites Iran potential, obstacles

12/05/2011
By Nick Snow
International sanctions and an unfavorable investment climate continue to limit Iran's development of its considerable oil and gas resources, the US Energy Information Administration said in a country analysis on Nov. 21. EIA cited OGJ estimates placing the country's oil reserves at 137 billion bbl as of Jan. 1, 2011, making it fourth worldwide behind Saudi Arabia, Venezuela, and Canada. Iran's estimated 1,046 tcf of gas reserves at that time, meanwhile, were second only to Russia's estimated 1,680 tcf, it added. EIA said Iran has 40 producing oil fields (27 onshore and 13 offshore), with onshore fields representing 71% of its total reserves. Of these onshore reserves, 85% are in the sout...
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