Iran says it's found new Caspian oil field
An Iranian official said his company encountered a new oil field in its territorial waters of the Caspian Sea and would work to survey the find. Ali Osouli, managing director of the Khazar Exploration and Production Co., in Iran said operators had encountered an oil pay of at least 78 feet thick in the deep waters of the Caspian Sea. "After 104 years this is for the first time oil is erupted in Caspian Sea waters during drilling operations," he told the Oil Ministry's official Petroenegy Information Network, or SHANA. Osouli said oil was ...
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