Global General

Iran discovers major natural gas field: minister

(Xinhua)
Updated: 2011-01-17 16:59

TEHERAN, Iran- Iranian Oil Minister Masoud Mirkazemi said that a major natural gas field called Khayyam has been discovered in southern Iranian oilfield of Assalouyeh, the state-owned IRNA news agency reported on Monday.

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The minister told reporters on Sunday that the gas field is located in the east of Assalouyeh opposite Lavan Island on the Persian Gulf shore, according to the report.

"The in-situ capacity of the gas field is 260 billion cubic meters and 80 percent of its reserves can be exploited," Mirkazemi was quoted as saying.

Iran and Qatar share a huge natural gas condensate field, the South Pars-North Dome field, in the Persian Gulf. According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters of in-situ gas and some 50 billion barrels of condensates.