Iran announces discovery of massive oil field, could boost its reserves by a third
Updated : November 10, 2019 06:54 PM IST
Iran has discovered a massive new oil field, President Hassan Rouhani said Sunday, a find that would boost its proven reserves by about a third in a rare piece of "good news" for an economy battered by US sanctions.
In a speech aired on state TV, Rouhani said the country's economy had stabilised despite punishing US measures against its senior leaders, banking and finance sectors.
The 80-metre deep reservoir stretches nearly 200 kilometres from Khuzestan's border with Iraq to the city of Omidiyeh.
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