Iran says it discovered over 7.5 trillion cubic feet of gas
The field could yield tens of billions of dollars in condensates and help Iran restore output after war damage and sanctions, officials said.
- 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 over 7.5 trillion cubic feet of gas reserves as war, US sanctions hamper production
Iranian Oil Minister Mohsen Paknejad said Sunday the country has discovered more than 7.5 trillion cubic feet (21.24 billion cubic meters) of gas reserves in a field in the southern Fars province. Nearly 5.7 trillion cubic feet of gas can be extracted from the field, considering a recovery factor of about 72 to 73 percent, Paknejad said in an interview with state-run IRIB TV. "The newly-discovered resources add tens of billions of dollars to the…
Iran has announced the discovery of a new natural gas field in the southern part of Fars province, estimated to contain more than 200 billion cubic meters of gas, amidst the ongoing conflict in the Middle East that is impacting the country's energy production.
The finding strengthens Iran's energy wealth, with the world's second largest natural gas reserves (33.6 billion cubic metres) and third-largest oil reserves (some 200 billion barrels).
Malay Mail
AlKhaleej TodayIran discovers more than 200b cubic metres of natural gas reserves
TEHRAN, Aug 24 — Iran said yesterday it had discovered more than 200 billion cubic metres of natural gas, months into the Middle East war that has hit the country’s energy infrastructure and production.“New gas reserves were discovered in the south of Fars province,” Petroleum Minister Mohsen Paknejad told state television, adding that over 160 billion cubic metres could be extracted from the field.He described it as sweet natural gas, which has…
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