Iran says it discovered over 7.5 trillion cubic feet of gas
Oil Minister Mohsen Paknejad said the field could yield about 161.4 billion cubic metres of gas and condensates worth tens of billions of dollars.
- On Sunday, Oil Minister Mohsen Paknejad announced Iran discovered over 212 billion cubic metres of gas in Fars Province, with about 161 billion cubic metres recoverable and condensates worth "tens of billions of dollars."
- Attacks starting in late February damaged energy infrastructure, cutting output by about 230 million cubic metres per day and prompting government warnings of winter shortages.
- Paknejad described the discovery as equivalent to 15 years of production from one South Pars phase, confirming the gas is "sweet" and will reduce both development and operating costs.
- The Islamic Republic plans to develop the resources "as soon as possible" despite ongoing United States sanctions, after officials previously expected to restore 100 million cubic metres of daily production "within the coming months."
- Tehran faces planned United States sanctions that could further strain its economy while attempting to develop Fars Province resources and restore war-damaged production capacity.
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Iran Discovers New Gas Field in Southern Fars Province, Says Oil Minister Paknejad
Get latest articles and stories on World at LatestLY. On Sunday, Paknejad said, "Seven thousand five hundred billion cubic feet of gas have been discovered, and considering a recovery rate of 73 per cent, it is possible to extract 5 thousand seven hundred billion cubic feet of gas." World News | Iran Discovers New Gas Field in Southern Fars Province, Says Oil Minister Paknejad.
New significant addition to the country's natural gas reserves - First estimates
Iran discovers major new gas reserves amid war-hit energy sector
Iran on Sunday said it had discovered more than 200 billion cubic metres of natural gas in the southern Fars province, with more than 160 billion cubic metres potentially recoverable. The find comes…
Iran has discovered more than 7.5 trillion cubic feet (212.4 billion cubic meters) of gas in a field in the south of Fars province, according to the Minister of Oil, Mohsen Paknejad, quoted by the state media this Sunday. Exclusive material for subscribers. To have full access, access the link of the material and register.
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