Iranian President announces discovery of “huge oil field”

  • Iranian President announces discovery of huge oil field

Kiev: Iranian President Hassan Rogani announced the discovery of a "huge" oil field in the south-west of the country.

This was stated by Ruhani, speaking in the city of Yazd, Radio Liberty reports with reference to Press TV.

“Today we announce to the United States that we are a rich country and, despite your hostility and tyrannical sanctions, the workers and engineers of the Iranian oil industry have managed to discover this huge oil field”, - he said.

According to Rukhani, the field extends over 2,400 square kilometers in the oil-rich province of Khozestan. Deposits are estimated at about 53 billion barrels, which could increase the country's reserves by about a third.

A statement on the oil field came amid increased US sanctions and diplomatic efforts to extract Tehran from the international oil market.

Iran, the founding member of OPEC, has the fourth largest reserves of oil and others - natural gas - according to the US Energy Information Administration. Oil exports are a source of revenue for Iran, which sought to keep open trade channels with China, Russia and the West amid US pressure.

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