22-07-08 Iran has discovered an oilfield with about 500 mm barrels of in-place reserves in a major production area in the south-west, Oil Minister Gholamhossein Nozari said, the third such announcement this month.
The new field, called Arvand, is on the outskirts of the city of Abadan, Nozari said.

It follows announcements in July of another find in the same region of a field holding 1.1 bn barrels of in-place reserves, and one further south with 525 mm barrels.
"Continuing the discovery of oilfields in Iran, the third oilfield discovered is called Arvand with half a billion barrels of in-place oil," Nozari was telling on the sidelines of a conference in Tehran.