Azerbaijan, Baku, Oct. 11 / Trend A. Yusifzade /
A new gas field with 70 billion cubic meters was discovered in the Iranian province of Hormozgan, Masoud Mir Kazemi, Iranian Oil Minister, was quoted by Fars agency, as saying.
A new field is located west of Bandar Abbas. The coefficient of the recoverability of reserves is 72 percent.
According to BP, the proven oil reserves of Iran hit 137.6 billion barrels of oil and 29.61 trillion cubic meters of gas.