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10 November 201911.05 Iran has discovered a new oil field from around 50 billion barrels in the south of the country. President Hassan Rohani announced it. The new wells would increase Iran's crude oil reserves by a third, which currently claims to have around 150 billion barrels. The open field is located in the province of Khuzestan. The Iranian energy industry has been severely hit by US sanctions following the collapse of the nuclear agreement.