Iran’s president says new oil field with 50bn barrels found

Author: 
Associated Press
ID: 
1573372915867164300
Sun, 2019-11-10 07:59

TEHRAN, Iran: Iran’s president says a new oil field has been
discovered with an estimated 50 billion barrels of crude oil in the
country’s south.

The announcement by President Hassan Rouhani on Sunday would
mean 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.

He said the discovered field was located in Iran’s oil-rich
Khuzestan province.

Rouhani made the announcement Sunday in a speech in the desert
city of Yazd.

Iran’s energy industry has been hard-hit by US sanctions over
its collapsing nuclear deal with world powers.

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UAE calls on Iran to seek new deal with world powers, region
Source: FS – All-News-Economy
Iran’s president says new oil field with 50bn barrels found