News ID: 260497
Published: 0249 GMT October 20, 2019

US failed to halt Iran's oil industry development: Minister

US failed to halt Iran's oil industry development: Minister

Oil Minister Bijan Namdar Zanganeh said Sunday that the United States has failed to cripple Iran through its aggressive sanctions regime against the country’s oil industry.

“A lot of attempts were made to halt the development of Iran’s oil industry under sanctions,” Zanganeh told Tasnim news agency.

“However, not only has the development of our country’s oil industry not stopped, but we are also witnessing an increase in the number of signed contracts, the launch of projects, and implementation and operation of numerous projects in the country's oil and gas industry,” he said.

“Oil and gas exploration continues across Iran, and whenever new discoveries yield results, the public will be informed… about the increase of the country’s oil and gas reserves,” the minister added.

Earlier this month, Zanganeh said Iran will not succumb to US pressure and will use every possible way to export its oil.

Iran's crude exports have reduced by more than half following US sanctions on the country's energy sector last year.

Last Sunday, the deputy head of the National Iranian Oil Company (NIOC) announced that a massive gas field was discovered south of the country.

Speaking to reporters in Tehran, Reza Dehqan said the huge gas field named “Eram” had been discovered in the province of Fars.

He added that the field, with a reserve capacity of 19 trillion cubic feet of natural gas in place, is located in the southern areas of the province.

Iranian officials have said the country is pressing ahead with its energy development plans despite severe US sanctions that seek to cripple the country’s economy.



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