Iran discovers new oil field in the country's south with over 50 billion barrels of crude oil, its president says.
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Rouhani made the announcement Sunday in a speech in the desert city of Yazd. He said the field was located inSome 53 billion barrels would be added to Iran's proven reserves of some 150 billion, he said. Oil reserves refer to crude that's economically feasible to extract. Figures can vary wildly by country due to differing standards, though it remains a yardstick of comparison among oil-producing nations.
The new oil field could become Iran's second-largest field after one containing 65 billion barrels in Ahvaz. The field is 2,400 square kilometers , with the deposit some 80 meters deep, according to the semi-official Tasnim news agency.
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