The Southern part of Iran has found a new on shore gas field as informed by the Oil Minister of the country, Masoud Mirkazemi. The worth of the field is being estimates at around $50 billion. Khayyam, which is the name of the new field, posseses a 260 billion cubic meters gas and on the top of that it even has around 210 billion cubic meters of the reserve which is tagged as recoverable, as informed by Mirkazemi. "The field also holds some 220 million barrels of gas condensates, 100 million barrels of it is recoverable," Mirkazemi said yesterday.The value of the gas and gas condensates has been estimated at least $50 billion," he noted. Mirkazemi said in the month of October that,"a new oilfield had been discovered in southern Iran, increasing the country's proven oil reserves to 150.31 billion barrels." Along with the whole thing he also made everywhere aware of the discovery of this new gas field by name Sefid (white) which has been found in Hormozgan, a southern province of Iran. "Over the course of the past six months, the country's oil and gas reserves have been reassessed. According to the latest studies, the country's oil reserves have reached 150.31 billion barrels," Mirkazemi said on November 30, 2010.
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