VOL. XLII

No 40

4-October-1999

IRAN

Iran Announces Big New Oil Find Near Border With Iraq

Iran has discovered a major new oilfield in the oil-richprovince of Khuzestan in the southwestern part of the country near the borderwith Iraq, according to Iranian Oil Minister Bijan Zanganeh. Announcing thediscovery on Tehran radio, Mr. Zanganeh said that the field had a productionpotential of 400,000 b/d with estimated reserves of 26bn barrels (presumablyreferring to preliminary assessments of oil in...