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's gas capacities are strongly attacked, and now the country wants to have found a new deposit.
Iran discovers major gas field "Takhteh" in Fars province worth $45b
TEHRAN- The Exploration Director of the National Iranian Oil Company (NIOC) has announced that the newly discovered "Takhteh" gas field in Fars Province has an estimated economic value of approximately $45 billion, describing it as one of the most significant gas discoveries in the country over the past two decades.
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.
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…
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