Iran's state-owned Pars Oil and Gas Co. said a reserve of an estimated
34 billion barrels of oil equivalent was discovered in the Gulf.
Pars said
both crude oil and natural gas were found near the southern port city of
Bushehr, site of the nation's nuclear energy reactor.
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"This is one of the biggest layers of oil in the country and it is under
the reservoir of the Ferdowsi offshore gas field," Pars managing director
Ali Vakili said on Nov. 22.
"We are currently drilling a well to accurately
assess the volume of oil."
In October 2010, Iran's proven reserves rose by nine percent to
150.31 billion barrels. Iraq has claimed that its crude oil reserves have
surpassed those of Iran.
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