(Xinhua) -- Iranian Oil Minister Gholam Hossein Nozari said on Sunday that Iran has discovered a new oil field in the southwest province of Khuzestan with in-place reserves of 1.1 billion barrels. he field, which is located near Andimeshk in Khuzestan, holds an estimated reserve of 233 million barrels of recoverable crude oil, state television quoted Nozari as saying.
| Hey look! The Arab Republic of Khuzestan has oil! |
The oil discovered in the new field is light crude with an API gravity of 33 degrees, the Iranian oil minister said.
Iran is the fourth-largest oil producer in the world and ranks second in output among the Organization of Petroleum Exporting Countries (OPEC) members. Iranian officials have said that the country's oil reserves were estimated at more than 130 billion barrels, about 12 percent of global reserves.
| A big chunk of that is in Khuzestan, whose residents have a lot more in common with the Shi'a in Iraq then they do with the Medes and Persians. Just sayin' ... |
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