Nov 11, 2019, 11:27 AM
Journalist ID: 2379
News Code: 83549990
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Iran's oil reserves rise up by 22 billion barrels: Zangeneh

Tehran, Nov 11, IRNA – Petroleum Minister Bijan Zangeneh said on Monday that Iranian oil reserves rose up by 22 billion barrels of crude oil after the discovery of the new oil field in the south of the country.

Iran has discovered new big oil field with an estimated 53 billion barrels of crude oil in southern province of Khuzestan.

At a ceremony held in Tehran this morning to elaborate on details of discovery of the new oil field, Zangeneh said that exploratory operation to locate 31 billion barrels crude oil out of total 53 billion barrels of the new field had already been carried out.

This new oil field named Naamavaran is one of the biggest discovered in Iran, Zangeneh noted.

The field is located in an area of 2,400 sq km (about 1,491 square miles) and is about 80 meters (262 feet) deep, Zangeneh added.

He further said the field may be possibly extended to other fields in southwestern and southeastern regions.

Iranian President Hassan Rouhani announced on Sunday the discovery of a new oil field which contains an estimated 53 billion barrels of crude oil.

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