Newly discovered oil field second largest in Iran: minister

TEHRAN, Nov. 11 (Xinhua) -- Iranian Minister of Petroleum Bijan Namdar Zanganeh said on Monday that the new oil field discovered in the southwestern province of Khuzestan is Iran's second largest oil reservoir, Press TV reported.

The new field, Namavaran oil field, has an estimated 53 billion barrels of reserves, Zanganeh said.

According to Press TV, Iran's largest oil field contains 65 billion barrels and is located in Ahvaz, capital of Khuzestan Province.

A day earlier, Iranian President Hassan Rouhani announced the new discovery, saying it was made despite the U.S. sanctions against the country's oil sector.

The new discovery will boost Iran's proven crude reserves by a third.