Sunday, July 20, 2008
Iran’s Oil Minister Gholam-Hossein Nozari has announced the discovery of a new oilfield with in-place reserves of about 525 million barrels.
The discovery was made near the southern port city of Assaluyeh in Bushehr province, he said.
Nozari called the discovery unprecedented given that so far most of the discoveries in the Assaluyeh region have been gas fields.
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Last week, Nozari had announced the discovery of an oilfield holding an estimated 233 million barrels of recoverable sweet oil and in-place reserves of 1.1 billion barrels in the oil-rich southwestern province of Khuzestan.
Iran’s oil reserves are estimated at around 136 billion barrels, making the country the second largest potential oil producer in the Middle East after Saudi Arabia.
This article was posted: Sunday, July 20, 2008 at 5:20 am