Iran announces major gas find worth $4.7 billion
Iran has discovered a major gas field in the south of the country with estimated reserves worth $4.7 billion, the official IRNA news agency said Sunday.
It said the Homa field contained some 200 billion cubic metres (7,000 billion cubic feet) of natural gas and 82 million barrels of liquefied natural gas and could be "70 percent developed" in the future.
IRNA cited the oil ministry's exploration director saying the find was located some 50 kilometers (30 miles) north of the Gulf port of Assaluyeh.
In April, Oil Minister Bijan Namdar-Zangeneh announced another major find in the same region.
Iran's natural gas reserves are second in the world behind Russia. Iran is in the midst of building a major plant at Assaluyeh to treat gas from the giant Gulf South Pars field, which is due to be running by the end of 2001.
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)