Commodities
Iran Announces Major Gas Discovery Amid War-Hit Energy Sector
An Iranian gas field has been discovered in the southern Fars province, containing over 212 billion cubic meters of natural gas.
The field holds more than 7.5 trillion cubic feet (Tcf) of gas, with an estimated recoverable amount of 161 billion cubic meters (5.7 Tcf), based on a recovery rate of over 72%.
Petroleum Minister Mohsen Paknejad described the discovery as 'sweet gas', meaning it contains low levels of hydrogen sulfide and other sulfur compounds, which can reduce processing costs.
The field also contains significant quantities of gas condensates, adding economic value to the discovery.