Iran discovers gas field in Caspian Sea

Iranian Oil Minister Rostam Qasemi says Iran has discovered a natural gas field with a reserve of about 50 trillion cubic feet in its territorial waters of the Caspian Sea, Press TV reports.


“The gas reserves of the field are estimated to be several times more than previous estimates,” the official website of Iran's Oil Ministry, Iranian media quoted Qasemi as saying on Sunday.

Qasemi said that previously, Iran's natural gas reserves in the Caspian Sea were estimated at about 11 trillion cubic feet, but the reserves of the new field have put the figure at several times more than the previous number.

He added that the new gas field is not a joint field and is located within Iran's maritime border.