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Iran Announces Major Oil, Gas Finds


8 March 2005 -- Iran has announced the discovery of two large oil and gas reserves near the southeastern city of Ahvaz.

Oil Minister Bijan Namdar Zanganeh said today that the new oil field, named Ramin, has estimated reserves of 5.7 million barrels of crude and 36 billion cubic meters of recoverable gas.

He said the new gas field contains an estimated 168 billion cubic meters of recoverable gas. He said it is a continuation of the giant South Pars field and close to the Balal offshore oil field.

(AFP)
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