Speaking to
reporters, Zangeneh said the oil was found at a depth of 3,770 meters in an
exploratory well and is very light and sweet.
"This
is the first time we've reached oil in the Abadan region," the minister
said, adding more exploration activities were going on in the Minou Island
where the oil was discovered.
He also
declined to announce Iran’s current oil production and export levels due to the
US sanctions on Tehran.
Asked
whether US waivers to a number of Iran’s oil buyers would continue, the
official said, “We shall wait.”