Iran Finds New Oil, Gas Reserves in Ahvaz Field

Iran has discovered new onshore oil and natural gas reserves in the oil-rich southwestern province of Khuzestan with an estimated value of $7.3 billion, an Iranian oil official said Wednesday.

The new gas reserves have been discovered at the Khami layer of the Ahvaz oil field, the Oil Ministry`s information network quoted the managing director of the National Iranian Oil Co., or NIOC, Gholam-Hussein Nozari, as saying.