5 new gas, oil fields discovered in Iran

Iran Materials 17 May 2011 10:24 (UTC +04:00)

Iran has discovered 5 new oil and gas fields which hold over 500 million barrels of oil and 5 trillion cubic feet of gas, the exploration director of National Iranian Oil Company announced here on Monday-MNA reports.

He did not give any further details.

Iran also announced in January that a new gas field has been discovered with considerable deposits of natural gas and gas condensates.

During the past 12 months, 6 oil and gas fields have been discovered in Iran which has reassessed the country's oil and gas reserves.

Iran boasts the world's second-largest natural gas reserves after Russia. Iran is also the world's third-largest oil producer.