Iran discovers new oil field in Caspian Sea

Iran discovers new oil field in Caspian Sea

PanARMENIAN.Net - Iran has discovered a new oil layer with two million barrels of oil reserves in its territorial waters in the Caspian Sea, Managing-Director of Khazar Exploration and Production Company Ali Osouli announced.

“The newly found layer at the Sardar-e Jangal field contains quality crude that is hydrogen sulfide-free,” Osouli said.

Osouli added the off-shore field would produce some 8,000 barrels of oil per day, Fars News Agency reported.

 Top stories
The Energy Minister thanked “our friendly country, Armenia” and his Armenian counterpart “for providing a huge assistance”.
"There have been no new talks on gas exports to Europe, but there are routes and facilities which we need to use," Majedi said.
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses,” the bank’s financial director said.
It also signed 33 Reimbursable Advisory Service agreements with 11 countries in the region for a total amount of $45 million.
Partner news