Bloomberg News

Iran Finds ‘Vast’ Crude Oil Reserves in Caspian Sea, Mehr Says

May 10, 2012

Iran discovered “vast” crude oil reserves in the Caspian Sea, the state-run Mehr news agency reported, without citing anyone.

The National Iranian Oil Co. found the reserves after completing part of its exploration studies of the Sardar Jangal natural-gas field in the Caspian, the agency said. The Oil Ministry will announce details of the new oil field soon, according to Mehr.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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