The new discoveries are giving credibility to Iran's claims that it will increase its output
Iran found three significant oil deposits in the south-west of the country, the Minister of Petroleum Gholamhossein Nozari said.
The latest discovery was made near the city of Abadan. The estimated oil-in-place amounts to 500 million barrels.
On July 20, the Petroleum Minister said that the National Iranian Oil Company had made a discovery in the coastal city of Assaluyeh, in an area, which previously yielded only gas.
On July 13, Nozari said that Iran has made a new big discovery in Andimeshk in the province of Khuzestan, with recoverable reserves estimated at 233 million barrels and 1.1 billion total crude reserves.
The new discoveries are giving credibility to Iran's claims that it will increase its output by 0.1 million barrels a day by next March
