Iran discovers major gas field estimated to be worth $50b.

January 17, 2011 09:04

Iran has discovered a major onshore gas field, according to an official state news agency.

Iranian Oil Minister Masoud Mirkazemi on Sunday told reporters that a gas field worth some $50 billion was discovered near the shore of the Persian gulf, state-run news agency IRNA reported.

Mirkazemi said that the "capacity of the gas field is 260 billion cubic meters and 80 percent of its reserves can be exploited," IRNA reported.

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