The National Iranian Oil Company has found a new large oil deposit in the deep waters of Caspian Sea locates in the North of Iran.
The Oil Minister Rostam Qasemi has not yet made comment on this subject but it is expected to reveal details of the new oil field in the future. One of the officials on the NIOC said the gas field, in waters 700 meters (2,300 feet) deep, lies wholly within Iran’s maritime borders and is not shared by the neighboring littoral states of Azerbaijan or Turkmenistan.
This new oil deposit has been discovered in the Sardar Jangal gas field which contains 50 trillion cubic feet of natural gas.
Iran has recently discovered a new gas field in the Southern province of Khuzestan which is estimated to contain reserves as much as the South Pars gas field.
