The discovery of a new oil field in Ilam province with a 3 billion barrel oil reserve is one of the latest significant achievements in Iran's oil industry. The value of this field is estimated to be around 200 billion US dollars, further solidifying Iran's status as one of the world's largest oil reserve holders.
In 2019, Iran announced the discovery of the Namavaran oil field in Khuzestan province, where approximately 53 billion barrels of crude oil were found. The discovery of such large fields demonstrates Iran's consistent efforts to research and develop its energy resources, thereby cementing its position as a key player in the global oil industry.
Similarly, the discovery of such large oil fields can positively impact Iran's economic growth and its opportunities for international cooperation in the energy sector. However, it is also necessary to consider that international sanctions and geopolitical factors could affect the country's capacity to export oil.
Iran's consistent efforts to develop its oil reserves and the discovery of new fields contribute to the country's economic stability and increase its regional influence. This, in turn, could intensify competition in the global energy market and affect oil prices.
However, Iran remains under international sanctions due to its nuclear program for several years, significantly limiting its ability to sell its oil resources.
Abdullah Sayyid
