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Iran's Newly-Discovered Oilfield in Khuzestan Holds 53b Barrels of Crude

The new field will boost the country's proven oil reserves of 150 billion barrels by one-third. Iran currently has the world's fourth-largest proven deposits of crude oil and the second-largest gas deposits
Iran's Newly-Discovered Oilfield in Khuzestan Holds 53b Barrels of CrudeIran's Newly-Discovered Oilfield in Khuzestan Holds 53b Barrels of Crude

A new oil field was identified in southwest Iran that holds 53 billion barrels of crude oil, President Hassan Rouhani said in Yazd on Sunday.
“Exploration department of the National Iranian Oil Company discovered the field in oil-rich Khuzestan Province following explorations carried out since 2016,” ISNA quoted him as saying.
The oil field is 2,400 square kilometers wide and has a depth of 80 meters.
This will boost the country's proven oil reserves of 150 billion barrels by one-third. Oil reserves refer to crude that is economically feasible to extract.
Iran currently has the world's fourth-largest proven deposits of crude oil and the world's second-largest deposits of natural gas.

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