TEHRAN – The director of National Iranian Oil Company (NIOC)'s Discovery Department said new oil and gas fields have been discovered in the country during the past two years, IRNA reported on Tuesday.

“The details of the discoveries will be revealed by the Oil Ministry.” Saleh Hendi said.

According to the official, there are currently about 40 newly discovered and already developed reserves across Iran which is an indication of significant work done by NIOC’s Discovery Department.

“NIOC continues its cooperation with foreign companies in various areas like discovery of new fields and reserves and also boosting recovery from old fields,” Hendi said.

He furthered noted that following the country’s sixth five-year development plan (2016-2021), NIOC have had very good achievements in exploration of new oil and gas reservoirs, so that now Iran ranks first in terms of oil and gas reserves.

“The U.S. sanctions haven’t had a significant impact on NIOC’s discovery activities and we are proceeding on schedule”, he added.

EF/MA