Iran announces 7.5 trillion cubic feet gas discovery in Fars province
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Iran's Oil Minister Mohsen Paknejad announced the discovery of more than 7.5 trillion cubic feet of natural gas in a field in Fars province. The recoverable volume is estimated at 5.7 trillion cubic feet, equivalent to about 15 years of production from one phase of the South Pars field. The discovery comes as Iran's energy infrastructure has been damaged by war and faces new US sanctions threats.
Key Facts
- The discovery in Fars province contains more than 7.5 trillion cubic feet (about 212.4 billion cubic meters) of natural gas.
- With a recovery rate of 72-73%, approximately 5.7 trillion cubic feet (about 161 billion cubic meters) of gas can be extracted.
- The gas is 'sweet gas', which reduces development and operating costs.
- The field also contains significant gas condensate reserves, adding tens of billions of dollars to Iran's national wealth.
- Iran's pre-war daily natural gas production was about 650 million cubic meters, but capacity fell by about 230 million cubic meters due to wartime attacks.
Discovery Details
Oil Minister Mohsen Paknejad announced the discovery on Iranian state television. The field is located in Fars province in southern Iran. The gas is classified as 'sweet gas', which lowers both development and operating costs. The recoverable volume of 5.7 trillion cubic feet is equivalent to about 15 years of production from one phase of the South Pars field.
Economic Impact
Paknejad said the discovery will add tens of billions of dollars to Iran's national wealth. The field also holds significant gas condensate reserves alongside the natural gas. Iran holds about 34 trillion cubic meters of proven natural gas reserves, second only to Russia, according to the Gas Exporting Countries Forum.
Production Context
Iran's energy infrastructure has been damaged by wartime attacks and faces new US sanctions threats. Pre-war daily natural gas production was about 650 million cubic meters. Production capacity fell by about 230 million cubic meters per day due to attacks during the war. Iran aims to restore about 100 million cubic meters per day of capacity in the coming months through ongoing repairs.
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Iran announces 7.5 trillion cubic feet gas discovery in Fars province
