Iran Discovers Oil, Gas Fields - Ministry

LONDON (Dow Jones), Feb. 8, 2010

Iran has discovered an oil field and a gas field, the Oil Ministry's news agency said late Saturday.

Shana quoted Petroleum Minister Masoud Mirkazemi as saying the gas field, called Halegan and located in the Fars province, has the capacity to yield 50 million cubic meters of gas a day for 20 years.

The Halegan development has the potential to generate more than $80 billion in revenue for the country at current prices, he said.

The Somar oil field, in the province of Kermanshah, has oil-in-place reserves estimated at 475 million barrels, 70 million of which could be recovered, the minister said.

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