Sunday, January 19, 2020
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Economic boom in Iran! The president made the big announcement


The 2,400-square-kilometer oil field was discovered in Khuzestan province, southwestern Iran, and contains 53 billion barrels of crude oil. The announcement was made by President Rouhani.

“We found an oil field with 53 billion barrels of oil, 53 billion barrels. It is a large oil field that covers an area of ​​2,400 square km, between Bostan and Omidiyeh. The oil layer is 80 meters thick (…) Iran's oil revenues will increase by $ 32 billion if the extraction rate from the oil field increases by only one percent, ”said Hassan Rouhani.

The oil field could become the second largest in Iran, after Ahvaz, which contains 65 billion barrels.

Iran, 4th in the world in terms of oil reserves

Iran is the fourth country in the world in terms of oil reserves and second in terms of gas reserves. At the same time, it faces difficulties in the sale of oil, due to the harsh sanctions imposed by the US, after they withdrew last year from a nuclear agreement agreed in 2015 with the powers of the world.

US President Donald Trump last year re-imposed sanctions against Iran and six other world powers. According to the agreement signed in 2015, Iran has agreed to limit its nuclear activities and allow international inspectors access to the country in exchange for easing sanctions. Sanctions have severely affected Iran's economy, with foreign exchange rates hitting record lows. These sanctions have led to a fourfold increase in inflation, expulsion of investors and outbreaks of protests.

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