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Monday, July 28, 2008

Iran discovers major new oil field

NICOSIA — Iran has reported the discovery of a major crude oil reserve.

Iranian Oil Minister Gholamhossein Nozari said the oil reserve near Assaluyeh contained reserves of 525 million barrels, Middle East Newsline reported. Nozari said Iran would be announcing other oil discoveries soon.

"A few other oil fields have also been discovered about which the public will be informed in the coming weeks," Nozari said.

Also In This Edition

In mid-July, Nozari reported the discovery of an oil field with an estimated 233 million barrels of oil near the Iraqi border.

The oil minister identified the energy as recoverable sweet oil.

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