New Delhi: Iran has discovered a new oil field in its southern district in Khuzestan province, announced President Hassan Rouhani on Sunday.

Addressing the people of Yazd, Iranian President Rouhani said, “We have discovered a new big oil field with 53 billion barrels of reserves,” news agency ANI stated as reported Islamic Republic News Agency (IRNA).

He further said that the oil field has extended from Bostan and continues to Omidieh with the capacity of 53 billion barrels.

Reportedly, the new oil field has the potential to become Iran’s second-largest field after the one in the southwest city of Ahvaz that contains 65 billion barrels.

“The US should know that Iran is a rich country and despite animosity and cruel sanctions, Iranian workers and engineers discovered a new oil field,” Rouhani asserted.

Iran currently has the world’s fourth-largest proven deposits of crude oil and the world’s second-largest deposits of natural gas. However, Iran has been crippled by oil sanctions placed by the US government.

Tensions between Washington and Tehran escalated after US President Donald Trump, last year, withdrew the nation from the 2015 Iran nuclear accord between Iran and world powers.

The deal imposed curbs on Iran’s nuclear programme in exchange for relief from international sanctions.

Not settling down, Washington further decided to put “pressure” on Iran and negotiate a new deal reinstating sanctions that choked Tehran’s oil exports and isolated its economy.