Iran Announces Discovery Of New Oil Field With 53 Billion Barrels Of Crude

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Iran said on Sunday that it has discovered a massive new oil field containing more than 53 billion barrels of crude.

President Hassan Rouhani said that the find would increase Iran’s proven reserves by over a third.

The field covers 926 square miles and is located in Iran’s southwestern province of Khuzestan, Rouhani said in a speech aired on state TV.

The new oil field would add around 34 percent to the OPEC member’s current proven reserves, estimated by energy giant BP at 155.6 billion barrels of crude oil.

Read more at i24NEWS.

{Matzav.com}

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