Iran announces new natural gas field in South Pars region
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Iran announced the discovery of a new natural gas field in the South Pars region with reserves exceeding 7.5 trillion cubic feet. Oil Minister Mohsen Paknejad said more than 72% of the reserves are recoverable, estimated at about 5.7 trillion cubic feet. The field also contains significant gas condensate reserves valued in the tens of billions of dollars.
Key Facts
- The new field holds more than 7.5 trillion cubic feet of natural gas, according to Iran's oil minister.
- Over 72% of the reserves, or about 5.7 trillion cubic feet, is recoverable.
- The field contains gas condensate reserves valued in the tens of billions of dollars.
- The gas is mostly dry with low sulfur content, reducing extraction and processing costs.
Discovery Details
Iran announced the discovery in the South Pars region on August 24, 2026. Oil Minister Mohsen Paknejad said the field holds more than 7.5 trillion cubic feet of natural gas. The recoverable portion is estimated at over 72%, or approximately 5.7 trillion cubic feet. Paknejad noted the reserves equal the amount one phase of South Pars would produce over 15 years.
Gas Composition and Value
The gas is primarily dry gas requiring minimal processing before transport. Low sulfur content further reduces extraction and purification costs. The field also contains significant gas condensate reserves. Iranian authorities estimate the new gas and condensate reserves could add tens of billions of dollars in value to the economy.
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Iran announces new natural gas field in South Pars region
