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Report: Iran discovers new oil, gas resources
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12:16, April 26, 2009

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Iran discovered a new oil layer and a gas field in the southwest and central parts of the country, Iran's Press TV reported Saturday.

The new oil layer forms part of the Band-e-Karkheh oil field northwest of Ahvaz, capital of Iran's oil-rich southwestern province of Khuzestan, Iran's Oil Minister Gholam-Hossein Nozari said.

The oil field's estimated reserves increased to 4.5 billion barrels with the discovery of the new layer, he added.

A gas field with an estimated reserve of some 169.8 billion cubic meters was also discovered in the central province of Fars, Nozari said.

According to Oil and Gas Journal, as of January 2009, Iran has an estimated 136.2 billion barrels of proven oil reserves, or roughly 10 percent of the world's total proven petroleum.

Iran's 2008 estimated proven natural gas reserves stand at some 26.8 trillion cubic meters, second only to Russia, according to Oil and Gas Journal.


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