Azerbaijan, Baku, Feb. 12/ Trend F.Milad/
Iran has discovered a large oilfield with considerable in-situ reserves, the deputy oil minister said on Sunday.
Mahmoud Mohaddes made the announcement without giving further details on specifications of the oilfield, Fars news agency reported.
The National Iranian Oil Company's official said that the country will not boost crude output in the current year compared with the year before.
Mehr news agency quoted Mohammad-Ali Emadi as saying that the country's oil output would rise by one million barrels per day by 2015.
He also said that Iran's crude oil reserves will end by the next 50 years, adding that oil deposits are recoverable by 29 percent on the average.
Oil Minister Rostam Qasemi said in August 2011 that the Iranian government should consider plans for the development of joint oilfields. The government should increase the budgets for the development of joint oilfields, Qasemi added.
"The oil industry's infrastructure needs more than 500 trillion rials (about $41 billion) of investment to achieve objectives of the country's 20-Year Economic Outlook Plan," Qasemi said.