New"huge" oil and gas reserves have been discovered in northeastern Iran, according to Rostam Qasemi, the country's oil minister. Press TV reported that recent studies indicate reserves near the country's border with Turkmenistan and Iraq could contain a considerable body of gas. Further seismic studies and exploratory wells need to be completed in order to understand the potential of the possible field, Qasemi said.
Qasemi also said Tehran will hold talks with Iraqi officials to discuss the newly found shared oil and gas reserves, the article stated.
Mehdi Fakour, managing director for the Central Oilfields Company, said an exploratory study of the field will continue through September this year, Trend reported.
"Details of the discovery of new natural gas reserves in the region will be announced by the National Iranian Oil Company," Fakour said, according to the article.
Trend also reported that in the last year, Iran has discovered more than 2 billion barrels of in-situ crude oil reserves across the country.