Iran discovers new onshore oil field

January 18, 2007 14:56


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Iran has discovered a new onshore oil field with an estimated reserve of two billion barrels, state-run television reported Thursday. Hassan Behbahani, an official of the National Iranian Southern Oil Fields Co., said the discovery was made at the Bangestan layer of the Ab-Teymour oil field, in the oil-rich province of Khuzestan, reported the state TV and Dow Jones Newswires. The National Iranian Southern Oil Fields Co. is affiliated with the National Iranian Oil Co. The newly discovered oil is in a layer around 40 square kilometers (15 square miles) wide, Behbahani said. Iran, the second largest producer in the Organization of the Petroleum Exporting Countries, or OPEC, and the fourth largest in the world, possesses 12 percent of the world's crude, with an estimated 130 billion barrels of recoverable oil.

Related Content

Bushehr nuclear Iranian
August 5, 2014
Iran and the bomb: The future of negotiations