Iran to Look for Shale Oil, Gas along Border with Iraq

November 5, 2013

The National Iranian Oil Co. will spend more than a year examining the potential for shale oil and gas reserves along Iran's border with Iraq, UPI reported on November 4, citing an official.

Hormuz Qalavand, exploration director at NIOC, said the company would use seismic technology in the project.

NIOC signed a $49.8 million deal with an unnamed private company to conduct the seismic surveys.

Shana, the Iranian Oil Ministry's official website, reported Sunday it would take about 14 months to complete the work.

Copyright: UPI, 2013