Iran: Giant Caspian deepwater oil find claimed

Iran has claimed to have made a discovery of as much as 10 billion bbl of oil offshore in the Caspian Sea, but few details have been disclosed.

Iran has claimed to have made a discovery of as much as 10 billion bbl of oil offshore in the Caspian Sea, but few details have been disclosed.

Various press reports quoted Iran’s Khazar Exploration & Production Co. as having claimed an oil discovery with pay thickness of at least 78 ft at a drilling depth of about 7,900 ft in a deep but unspecified water depth.

Khazar has been drilling in the Caspian since late 2010 with the Amir Kabir deepwater semisubmersible, formerly called Iran Alborz.

More in Discoveries