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2008 July 14   08:09

New oil field found in southern Iran

A new oil field with appraised reserves of 1.1 billion barrels has been discovered north of the Iranian city of Andimeshk in the Khuzestan province bordering on Iraq, Iranian Oil Minister Qolam Hosein Nozari said on Sunday according to Itar-Tass.

Iran ranks second in OPEC by the amount of liquid hydrocarbon reserves and the world’s fourth by crude supplies.

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