Iran has discovered a new oil field containing unspecified reserves of "light and sweet" crude in the southwestern province of Khuzestan, Iran's oil minister said Wednesday.
The oil field was discovered on Tuesday on Minoo Island in the general area of Abadan, which is home to Iran's largest and oldest oil processing facility, said Bijan Namdar Zanganeh.
"This is the first time we discover oil in the Abadan area," which is located at a depth of 3,770 meters, Zanganeh was quoted as saying by Press TV.
Drilling will continue to estimate the total volume of the reserves and the possibility of production, he added.
According to the report, Iran will determine whether it is an independent oil field or the extension of an Iraqi oil field across the border.
Editor:Cherie
