More than 50 billion barrels of crude oil have been discovered in Iran's southern Khuzestan province, home to the country's oil industry.
Iranian President Hassan Rouhani announced the discovery during a televised speech in Yazd on Sunday, saying that the field stretches over 24-hundred square kilometers in the oil-rich province.
''In spite of the Iranian nation's entire enemies, during the days when you imposed sanctions on Iran's oil sales and pressurized our nation, our dear workers and engineers discovered 53 billion oil barrels in a huge oil field.''
According to the U.S. Energy Information Administration, Iran has the world's fourth-largest oil reserves after Venezuela, Saudi Arabia and Canada.
If it can be drilled, the new oil field would make Iran's crude oil reserves the world's third largest, surpassing Canada.
The findings come as Iran faces tough U.S. sanctions after Washington pulled out of the 2015 nuclear deal with world powers last year,.. leaving uncertainties on whether the new find will go into actual commercial production.
KIM Da-mi, Arirang News.