Addressing a training session for energy reporters, NIOC exploration manager Seyed Mahmoud Mohaddes said: of total 633 billion dollars worth of the discoveries, $303 billion allocates to liquids, including crude oil and gas condensates while $330 billion to natural gas.
He said the worth of the discoveries are 500 times more than $1/160 billion, which has been spent to discover the fields.
He went on to say that worth of the discoveries has been estimated on 50 dollars for each barrel of crude and gas condensate and 15 cents for each cubic meters of natural gas.
Mohaddes remarked that Fourth Five Year Plan continues until the end of the current Iranian calendar year 1388 (20 March 2010) and we are hoping to announce new discoveries during the remaining time.
He added that the rate of success in the exploration operations in the world is 30 to 35 percent; this is while this ratio in Iran is double.
He stipulated that the success rate of exploration in the second Five-Year Plan was 57, in third Five-Year plan 79 and in fourth Five-Year plan 79/2 percent.