Tuesday 23 November 2010

Iran announces major oil find in Gulf, Iran Industries - Maktoob News

An Iranian state energy firm has announced a major discovery of around 34 billion barrels in associated oil reserves at an offshore gas field in the Gulf, official media reported on Monday.

A huge oil layer has been found in coastal waters near the southern port city of Bushehr, said Ali Vakili, managing director of Pars Oil and Gas Co, quoted by Iran's state-run television website.

"This is one of the biggest layers of oil in the country and it is under the reservoir of the Ferdowsi offshore gas field. We are currently drilling a well to accurately assess the volume of oil," he said.

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