Iran plans bids for 8 new oil, gas blocks

National Iranian Oil Company (NIOC) director of exploration Mahmoud Mohaddes says documents for the tenders are being prepared. He has not given further information about the bids.

The official added that Iran plans to explore new reserves of 500 million barrels of oil and 5 trillion cubic feet of gas per year during a five year plan.

Earlier Mohaddes said that during the course of the fourth five-year development plan (2005-2010) of Iran, the country has discovered 19 new oil fields and eight new gas reserves.


/Press TV/