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[BUSINESS] · Iran · 45 sources

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Iran discovers large natural gas field in Fars province

Iranian Petroleum Minister Mohsen Paknejad has announced the discovery of a major new natural gas field in the southern Fars province. The reservoir is estimated to contain over 7.5 trillion cubic feet of gas, with approximately 5.7 trillion cubic feet deemed recoverable.

Paknejad noted that the gas is ‘sweet,’ meaning it has minimal hydrogen sulphide, which is expected to reduce both development and operational costs. The discovery also includes significant volumes of gas condensate, which officials suggest could add tens of billions of dollars to the nation's wealth. The recoverable volume is reportedly equivalent to roughly 15 years of production from one phase of the South Pars field.

This announcement comes as Iran's energy sector faces significant challenges following military strikes by the US and Israel, which have impacted infrastructure and reduced production capacity. While the discovery offers long-term potential, analysts suggest that commercial production is likely several years away due to technical requirements and the ongoing geopolitical and economic pressures facing the country.

Entities

Erfan Afazali · Fars Province · Iran · Ministry of Petroleum · Mohsen Paknejad · South Pars · South Pars/North Dome · United States

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