Azernews.Az

A senior Iranian oil official says the Islamic Republic has discovered a new oil layer with in-place reserves of 2 million barrels in Iran`s territorial waters in the Caspian Sea, Press TV reported.

Ali Osouli, the managing director of Khazar Exploration and Production Co. (KEPCO), said on Monday that the newly found layer, which is located on Sardar-e Jangal oil and gas field off the shore of the northern province of Gilan, contains quality crude that is toxic hydrogen sulfide-free.

Osouli also predicted that Sardar-e Jangal would produce some 8,000 barrels of oil per day.

According to preliminary evaluations, gas reserves of the field are estimated at 50 billion cubic feet - a quantity equivalent to Iran`s total gas consumption over a 10-year period.

Earlier in May, and less than a year after Iran discovered the huge gas field, the National Iranian Oil Company`s (NIOC) officials said the area also contained huge crude oil reserves.

According to NIOC officials, the new natural gas field is completely situated within Iran`s territorial waters in the Caspian Sea and is not shared with any neighboring country.

Meanwhile, Governor of Gilan Province Mehdi Saadati said that the first phase of developing the field is expected to become operational within two years and will create job opportunities for 6,000 people.

Iran discovered 13 new oil and gas fields with in-place reserves of 14 billion barrels of oil and 45 trillion cubic feet of natural gas during August 2009 to August 2010.

Between March and December of 2010 alone, Iran discovered seven gas fields and more fields are anticipated to be found in the current Iranian calendar year (which started March 20, 2012).