Iran Makes New Discovery at South Pars

Iran has made a new discovery in its South Pars gas field. This new field will boost production by 100,000 barrels per day, according to a senior Iranian energy official. "We've unearthed a new oilfield at a depth of 1000 meters. We have drilled three wells that will enable us to pump 35,000 barrels per day," Assadollah Salehiforouz, director of the state-run Pars Oil and Gas Company, was quoted as saying by the official IRNA news agency. "Further development of the field will boost production to 100,000 bpd," he said.

Further details were not immediately available. Aside from its 464 trillion cubic feet (13.14 trillion cubic meters) gas reserves, the offshore South Pars gas field also holds an unknown amount of oil.