Iran: Largest Oil Find in Five Years

Iranian oil minister Qolam Hossein Nozari today told reporters in Tehran that over 8.8 billion barrels of crude oil has been discovered in four new layers at the Sousangerd oilfield, the largest find in five years [IRNA, 24 August].

"Drilling all layers of this field was successfully finished in the depth of 5,026 metres and as expected the amount of in-place oil reserve is about 8.83 billions of barrel," Nozari said.