Iran plans to invest in developing its three heavy oil fields

On February 20th, according to the Trend news agency in Tehran, Iran plans to invest $1 billion in its three heavy oil fields, namely Koon Mond, Booshgan, and Kooh Kahi.

Iran has the world's third largest oil reserves and the world's second largest atmospheric reserves.

According to a plan developed by Iran's Pars Company and Iran Petroleum Engineering Company, these three heavy oil fields will produce 10000 to 12000 barrels of crude oil per day during the phase and increase to 25000 barrels of crude oil per day during the phase.

It is reported that Iran has explored 18 heavy and ultra heavy crude oil fields so far.

Iran currently has an estimated 560 billion barrels of oil reserves, of which 140 billion barrels are recoverable reserves, including 70 billion barrels of heavy oil and overweight crude oil reserves.