Azerbaijan, Baku, July 2/Trend M. Moezzi
New petroleum reserves have been discovered in the Iranian Yadavaran field, adding 5 to 6 billion barrels to the country's exploitable reserves.
Oil Minister Rostam Ghasemi, who told Shana news about the discovery, said Yadavaran is producing 20,000 barrels of oil a day currently.
When the field's second phase becomes operational, 200,000 barrels of oil will be added to Iran's daily production.
Yadavaran is 70 kilometers southwest of Ahwaz in Iran's oil rich Khuzestan Province. It sits on the Iran, Iraq border and is shared by the two countries.
Estimates say there are more than 12 billion barrels of oil in Yadavaran and that number could increase to 30 billion barrels.
According to BP annual report published last month, Iran's proved oil reserves are 153 billion barrels.