ENERGY

Iran finds new oil field with 50 bln barrels of crude: Rouhani

Iranian President Hassan Rouhani. (File photo: AP)

Iran’s president said a new oil field has been discovered with an estimated 50 billion barrels of crude oil in the country’s south.

The announcement by President Hassan Rouhani on Sunday would mean Iran’s proven crude oil reserves would be boosted by a third. Right now, Iran says it has some 150 billion barrels of proven crude oil reserves.

He said the discovered field was located in Iran’s oil-rich Khuzestan province.

Rouhani made the announcement Sunday in a speech in the desert city of Yazd.

Iran’s energy industry has been hard-hit by US sanctions over its collapsing nuclear deal with world powers.

Iranian oil minister Bijan Namdar Zanganeh clarified on Monday that the discovery adds only 22.2 billion billion barrels to the country’s estimated crude reserves.

SHOW MORE
Last Update: Monday, 11 November 2019 KSA 12:13 - GMT 09:13
Top
BREAKING NEWS

Send to a friend

Close
Iran finds new oil field with 50 bln barrels of crude: Rouhani
Friend's name:
Friend's Email:
Sender's name:
Sender's Email:
Captcha Code
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed