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FinancialNews


  • 11-11-19

    Discovery of new massive oilfield in southwestern Iran

    (MENAFN) Iranian President Hassan Rouhani on Sunday announced the discovery of a new big oilfield in Khuzestan province in southwestern Iran.

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

    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 understand 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.

    MENAFN1111201900450000ID1099254089

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