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Iran reports a major new gas discovery in Fars province
Iran’s oil ministry estimates 7.5 trillion cubic feet of gas, 73% recoverable, and links the find to lower development and operating costs.
Iran has announced a new natural gas discovery in the southern province of Fars, with the country’s oil ministry citing estimated reserves of 7.5 trillion cubic feet, of which 73% is recoverable, or about 5.7 trillion cubic feet, according to OilPrice.
The outlet reports that Iran says the gas is “sweet,” a characteristic it said would reduce both development and operating costs. Oil minister Mohsen Paknejad, as quoted by Iranian media, compared the amount to one block of South Pars that could supply gas for 15 years.
OilPrice also notes that Iran’s oil ministry said repairs at the South Pars gas field are ongoing, with 70% of operations restored after damage from U.S. and Israeli strikes earlier in the war.
The story adds that full restoration of South Pars operations would take at least three years, with some trains targeted to return online by the end of the year and overall reconstruction expected within two years, as the U.S. threatened additional sanctions on Tehran.
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