Iran announces major oil discovery

Iran announces major oil discovery
# 26 August 2009 12:29 (UTC +04:00)
"These reserves were discovered after drilling through all the new layers of reserves, to a depth of 5,026 meters (16,489.5 ft), and the expected and possible amount of reserves in this field is over 8.83 billion barrels," Iran’s Oil Minister Gholam-Hossein Nozari said in a statement on Monday.
Susangerd oil field is in Iran’s southwestern Khuzestan Province, 12 km (7.5 miles) southwest of the town of Susangerd. Its dimensions are 24 x 6 km (14.9 x 3.7 miles).
The minister described the field as the most significant discovery in the past 5 years. "The development of this field can play an effective role in raising the crude oil production in the country," he said in the statement.
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