Peak Oil? What Peak Oil? Iran Reports Huge Crude Oil Discovery -- November 10, 2019

Iran can't be trusted with reports like this, but in this case, there's nothing to suggest this report is bogus. Putting this in perspective: this is like finding another Bakken.

Link here. Data points -- with a bit of politics and opinion throw in --

• Iran
• new oil reservoir called "Namavaran"
• previously proven reserves in the field: 31.3 billion bbls
• new proven reserve in the field: 22 billion bbls
• total proven reserve in the field: 53.3 billion bbls
• new recoverable oil with recovery rate of 10%: 2.2 billion bbls
• new oilfield -- estimates, 53 billion bbls or oil
• located in the country's oil-rich Khuzestan province
• will boost the country's reserves by a third
• Iran: fourth-largest reserve holder of oil; second-largest holder of gas reserves 
• no wonder "we" have sanctions on Iran
• as Ill-Hand Omar would say: it's all about the Benjamins
• country waiting for new leadership in Washington when all sanctions could be lifted