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Iran makes huge oil discovery

Iran has found a huge new oil deposit, extending its crude reserves by around one third.

Photo: Jon Nazca/Reuters/Ritzau Scanpix

Iran has discovered an oil field containing 53 billion barrels of crude, informs Iranian President Hassan Rouhani in a speech on national television.

Rouhani says the field is located in the petroleum-rich Khuzestan province in the southern part of the country. The field's surface area is approximately 2,400 meters2.

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