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After discovering the oil field .. How will Iran face US pressure?

2019-11-11T14:57:40.855Z



Jazeera Net-Tehran

Iranian sources said that the capacity of the new oil field is 70% more than the volume of reserves of the largest oil field discovered by Tehran so far, while others felt that the US sanctions will not be able to withstand the need for world markets thirsty for Iranian oil.

Nearly 18 months after the United States reimposed sanctions on Iran's energy sector, Iranian President Hassan Rouhani announced on Sunday the discovery of a new oil field in the southwestern province of Khuzestan, containing 53 billion barrels of crude oil.

Rouhani stressed that despite the economic pressures experienced by his country during the past two years, "the reluctance of the people, unity and wide efforts made us reach a point where America is disappointed," adding that Iran's oil revenues would increase by about $ 32 billion if the rate of extraction of oil from the new field Only 1%.

Iran has been self-sufficient in the field of exploration and discovery of oil and gas fields for decades after it saw that the major powers closed their doors and began to put economic pressure on them after the victory of the Islamic revolution in 1979, according to Iranian economist Saeed Leylaz.

Giant field
In an interview with Al Jazeera Net, Leylaz described the discovered field as a giant, explaining that its reserve capacity is 70% more than the size of the reserves of the largest oil field discovered by Iran to date, the Azadegan field in the south of the country.

He pointed out that Tehran could extend its economy by 200 billion dollars by extracting 30 billion barrels of crude reserves in the new field, adding that the new Iranian discovery means that the third largest oil country is not under US control, while the main reason for the Middle East crises is the conflict over Oil, as he put it.

Saeed Leylaz sees US sanctions against Iran short-term (Iranian press)

Iran now has the world's third largest oil reserves after Venezuela and Saudi Arabia, where Tehran says it has about 150 billion barrels of proven crude reserves, meaning the new discovery has raised its oil reserves to more than 200 billion barrels.

The Iranian economist said that the US sanctions against Iran are short-term, while talking about a huge oil field as announced by President Rouhani long-term.

He predicted that the dispute between Tehran and Washington will not be until 2020, as is the case in the current circumstances, and if it continues, Iran will find alternative solutions to sell its oil and circumvent the US sanctions as it began months ago and the volume of exports is gradually increasing.

Leylaz expressed confidence that the technologies needed to extract crude oil from the new field are available to Iran, but he expected that Tehran will negotiate with some foreign companies after the end of the sanctions imposed on them, to do part of the task since there are many other oil fields in the country.

He said that the main problem in the tense relations between Iran and the United States is that Tehran is not subject to Washington's agenda and does not keep up with American policies, pointing out that part of their differences is due to US differences with China and European countries, pointing out that the Trump administration is trying to pressure China and European countries through pressure. On Tehran.

Thirsty markets
Majid Zavari, director of the Institute for International Relations, described the field as a tremendous asset for future generations in Iran, even if US sanctions hindered the extraction or export of its reserves, noting that US sanctions could not withstand the need for world markets thirsty for Iranian oil.

Zawari said in an interview with Al Jazeera Net that Iranian crude exports never stopped even at the height of US pressure to zero, adding that the targeting of Saudi Aramco facility and oil tankers off the UAE coast proved that the flow of oil through the Gulf waters will only continue to secure Iranian interests.

He believed that the fate of the current US sanctions to the demise due to political developments and the change in the levels of supply and demand for global markets and conditions that will occur in the balance of global power, as it is not fixed in the world of politics in the long run.

Majeed Zouari explained that Iranian crude exports never stopped even at the height of US pressure (Al Jazeera)

Circumvent sanctions
The Iranian researcher pointed out that the US sanctions represent an opportunity to reduce the Iranian budget's dependence on the revenues of crude oil exports, by converting it into petrochemicals and new products that are not subject to U.S. sanctions, stressing that Iran has devised new ways to sell its oil during the past period, which America has failed to disclose many of them so far.

After the return of US sanctions, Iran has vowed to continue exporting its oil through various routes despite pressure from Washington to zero its exports, and warned that it would close the Strait of Hormuz if it could not export its oil, a threat which it later said it needed to implement because its oil exports were proceeding. In full swing.

Source: aljazeera

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