In the province of Chusestan – Iran announces discovery of huge oil field


APA / ag

According to Rouhani, the area has 53 billion barrels of oil

The oil field is located in the province of Chusestan near the border with Iraq and extends nearly 200 kilometers to the city of Omidiyeh, said Rouhani. "This is a small government gift to the Iranians," the president said.

The energy company BP estimates the crude oil reserves in Iran so far at 155.6 billion barrels. The Islamic Republic was thus already in fourth place of the largest oil nations in the world. In terms of gas reserves, the country even ranks second worldwide. However, its oil exports have collapsed because of the sanctions imposed by the US following its exit from the nuclear deal with Iran.

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