Iran says finds new oilfield with 53 billion barrels of crude
Iran has discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, President Hassan Rouhani said on Sunday.
“Workers and the exploration arm of the National Iranian Oil Company…have found an oilfield with 53 billion barrels of reserves,” Rouhani said in a televised speech in the central city of Yazd. The field stretches over 2,400 sq km (927 sq miles) in the oil-rich Khuzestan province, Rouhani said.
Iran ranks as the worlds fourth-largest reserve holder of oil, and the second-largest holder of gas reserves, according to the US Energy Information Administration (EIA).
