Tasnim – Iranian Oil Minister Bijan Namdar Zanganeh highlighted the ineffectiveness of US sanctions against the Islamic Republic’s oil sector and said attempts aimed at blocking Iran’s oil industry have gotten nowhere.

“A lot of efforts were made to halt the development of Iran’s oil industry under the conditions of sanctions,” Zanganeh told Tasnim.

“However, not only hasn’t the development of our country’s oil industry stopped but we are witnessing an increase in the number of signed contracts, the launch of projects, and implementation and operation of numerous projects in the country's oil and gas industry,” he said.

“Oil and gas exploration continues across Iran, and whenever new discoveries yield results, the public will be informed… about the increase of the country’s oil and gas reserves,” the oil minister went on to say.

Last Sunday, the deputy head of the National Iranian Oil Company (NIOC) announced that a massive gas field has been discovered south of the country.

Speaking to reporters in Tehran, Reza Dehqan said the huge gas field named “Eram” has been discovered in the southern province of Fars.

He added that the field, with a reserve capacity of 19 trillion cubic feet of natural gas in place, is located in southern parts of the province.

Iranian officials have said the country is pressing ahead with its energy development plans despite severe US sanctions that seek to cripple the country’s economy.