3.5 bln more barrels of oil can be extracted from Azadegan -Iran oil min

DUBAI, Jan 25 (Reuters) - The estimated amount of oil that can be extracted from the Azadegan oilfield has risen by 3.5 billion barrels due to an innovation by experts at Tehran University, Iran’s Oil Minister Bijan Zanganeh said on Saturday, according to the official IRIB news agency.

Zanganeh did not provide additional details about the innovation.

“Today the head of Tehran University gave good news and announced that this university guarantees that the rate of oil recovery from the Azadegan field which was previously 5% to 6% can be increased to 10% which this success means an addition of approximately 3.5 billion barrels to the extractable reserves from this field,” Zanganeh said. (Reporting By Babak Dehghanpisheh; Editing by Hugh Lawson)