Iran’s oil minister said the country has discovered more than 7.5 trillion cubic feet of natural gas in a new field located in southern Fars province, a development that could bolster the country’s energy sector amid ongoing infrastructure repairs and sanctions pressure.
Minister Mohsen Paknejad stated the field contains an estimated 212.4 billion cubic meters of gas, with about 5.7 trillion cubic feet deemed recoverable based on current estimates. The gas is classified as 'sweet,' meaning it requires less processing and could lower development and operational costs for Iran’s energy industry.
The discovery follows extensive damage to Iran’s energy infrastructure during the conflict with Israel and the United States, which has reduced the country’s natural gas production capacity by roughly 230 million cubic meters per day since late February. In July, a senior government official said Iran expected to restore about 100 million cubic meters per day of production capacity in the coming months.
Before the conflict, Iran produced around 650 million cubic meters of natural gas daily, equivalent to approximately 8.4 trillion cubic feet per year. The new field is located in Fars province, a region known for its energy resources, and the announcement underscores Iran’s efforts to revive its energy sector despite ongoing geopolitical and economic challenges.
