Iran discovers a new oilfield in the southwest, with crude oil reserves of 53 billion barrels.
According to the reports from foreign media, Iranian President Rouhani said Irans discovery of a new oilfield in the southwest could increase its oil reserves by a third. As the reports go, Rouhani said in a television speech in Yazd, a city in central Iran, that Iranian National Oil Company staff and exploration departments had discovered a new oilfield with 53 billion barrels of reserves. Rouhani said the oilfield covers an area of over 2,400 square kilometers and is located in Khuzestan, an oil-rich province. According to the information from US Energy Information Administration, Iran is the worlds fourth largest oil depositor and the second largest natural gas depositor. The US Energy Information Administration website says that Iran has confirmed crude oil reserves of approximately 15