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Iran reveals details of a newfound oil field in Caspian Sea

Iran Materials 17 May 2012 11:03 (UTC +04:00)

Azerbaijan, Baku, May 17 /Trend D.Khatinoglu, M. Moezzi/

The details of a newly discovered big oil field in Caspian Sea have been announced, Mehr news agency reports.

The announcement was made by Oil Minister Rostam Qasemi as he visited the Amir Kabir semi-submersible drilling platform.

Iran first discovered the new oil field on May 10. The exploration was done from the Iran Alborz drilling platform, 250 kilometers from shore, in the eastern Mazandaran Province.

The reserves have been found at a depth of 2,460 meters. Early reports indicated that the newly discovered oil field contans from 8 to 10 billion barrels of oil.

Rostam Qasemi said earlier that the first "oil" torch will be sparked on the "Amir Kabir" platform (Alborz).

Qasemi said that a field with gas reserves amounting to 50 trillion cubic feet (more than 1.4 trillion cubic meters) and oil - 10 billion barrels was discovered in the Iranian sector of the Caspian Sea in December 2011.

The deposit called "Sardar Milli" is located 188 kilometers to the north of the coast of Gilan province and 250 kilometers north-west of the Neka port.

According to the received data, a new field is ten times larger than "Shah Deniz" field in Azerbaijan (reserves amounting to 1.2 trillion cubic meters), Qasemi said.

Earlier, Iran has carried out unsuccessful exploration operations in various sectors of the Caspian Sea through the "Amir Kabir" platform seven times, but this time they were successful.

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