Iran finds new oilfield of massive size

11/11/2019 14:10 Oil Market

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Iranian President Hassan Rouhani on Sunday said a new big oilfield has been discovered in Khuzestan province in southwestern Iran.

"We have discovered a new big oilfield with 53 billion barrels of reserves," Rouhani said in a speech cited by the official IRNA news agency.

 

The Iranian leader said the oilfield has extended from Bostan district to Omidieh with the capacity of 53 billion barrels.

 

Rouhani said the U.S. should realize that Iran is a rich country.

 

"Despite animosity and cruel sanctions, Iranian workers and engineers discovered a new oilfield," he said.

 

The new discovery would mean that 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.

Source: aa.com.tr

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