Article

2009-04-15 Syria-Lebanon-Iran

[Iran Press TV Latest] Iran has discovered a new offshore oil field in the Persian Gulf with reserves of 1 billion barrels of heavy crude, says a top oil official.

The head of the Iranian Offshore Oil Co (IOOC) Mahmoud Zirakchianzadeh said on Tuesday that the oil field was discovered by India's Oil and Natural Gas Corp (ONGC) in the Farsi block in the Persian Gulf, IRIB reported. He added that the amount of recoverable oil from the field, named Binaloud, would be announced later.

The National Iranian Oil Company announced last week that Iran has discovered seven new oil fields with 'considerable' reserves.

Iran, OPEC's second biggest oil producer, controls about 5 percent of global oil supply.

Posted by Fred 2009-04-15 00:00|| || Front Page|| [11135 views ] Top
File under: Govt of Iran

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