New Oil Discovery in Iran

Published January 24th, 2019 - 08:37 GMT
The oil was discovered at a depth of 3,770 meters and has an API gravity of 40 which is “very light and sweet. (Shutterstock)
The oil was discovered at a depth of 3,770 meters and has an API gravity of 40 which is “very light and sweet. (Shutterstock)

Oil Minister Bijan Zanganeh said Iran has discovered oil near Abadan, southwestern Khuzestan province, for the first time.

“During the exploratory operations on Minoo Island, the first ever crude in the general area of Abadan was discovered on Tuesday morning,” Zanganeh said.

According to him, the oil was discovered at a depth of 3,770 meters and has an API gravity of 40 which is “very light and sweet.”

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The veteran minister further said, “We have a lot of hope to discover more oil in the area."

He did not give any estimate of how much oil the well might contain but noted that drilling operations will continue to estimate the total volume of the reservoir and the possibility of production.


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