Iran announces major gas discovery in southern Fars province
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Abdullateef Fowewe
Iran has announced the discovery of a major natural-gas field in southern Fars province containing more than 7.5 trillion cubic feet of gas, with an estimated 5.7 trillion cubic feet considered recoverable.
Oil Minister Mohsen Paknejad said the newly identified reserve also holds substantial volumes of gas condensate, potentially worth tens of billions of dollars.
The discovery consists of “sweet” natural gas, which generally requires less processing because it contains relatively low levels of hydrogen sulphide.
Iranian authorities said the estimated reserves are equivalent to about 15 years of production from one phase of the giant South Pars gas field.
The announcement could provide a significant boost for Iran, which holds the world’s second-largest proven natural-gas reserves after Russia.
However, the country’s energy sector has faced persistent constraints from international sanctions, limited foreign investment, ageing infrastructure and damage linked to regional tensions.
Iran says it intends to accelerate development of the Fars gas field to support domestic industrial demand, although commercial production is still expected to take years due to financing, technology, and geopolitical challenges.
