Iran announces major gas discovery in southern province
Iran says it has discovered more than 7.5 trillion cubic feet of natural gas in southern Fars province, with about 5.7 trillion cubic feet estimated to be recoverable. The announcement comes as Tehran faces growing pressure over its ability to export oil.
Iranian Oil Minister Mohsen Paknejad announced Sunday the discovery of a major natural gas deposit in Fars province, describing it as a significant addition to the country’s national wealth.
The field contains more than 7.5 trillion cubic feet of gas, according to Paknejad. Based on an estimated recovery rate of more than 72%, around 5.7 trillion cubic feet could ultimately be extracted.
‘Sweet gas’ could lower costs
Paknejad said the deposit has an important advantage: the gas is classified as “sweet gas”, meaning it contains relatively low levels of sulphur compounds.
“Because the gas is sweet, it helps bring down both development costs and the costs of production and operation,” the minister said.
He compared the recoverable volume to the amount required to supply one phase of Iran’s giant South Pars gas field for around 15 years.
Production timeline remains unclear
Iranian authorities did not immediately identify the newly discovered field or provide details on when commercial production could begin.
The discovery comes as Tehran seeks to strengthen its domestic energy resources and expand its ability to meet future gas demand.
While the size of the deposit could make it strategically significant, turning reserves into production would require further exploration, investment and infrastructure.
Announcement comes amid export pressure
The gas discovery was announced as Iranian officials say the country has been unable to export oil because of what they describe as a US naval blockade.
Iran remains under heavy pressure from US sanctions and other restrictions affecting its energy sector.
The newly announced reserves could therefore offer a boost to Iran’s long-term energy position, even though the immediate impact will depend on how quickly the field can be developed and brought into production.
