Commodities
Iran Discovers 7.5 Trillion Cubic Feet of Natural Gas Amid Ongoing Conflict
Tehran announced on Sunday that it has discovered more than 7.5 trillion cubic feet of natural gas in the southern Fars Province, a find that adds to Iran's vast energy reserves.
The discovery was made at the Pazan field, which lies in southern Fars Province and extends towards Bushehr Province, according to Oil Minister Mohsen Paknejad.
Paknejad stated that nearly 5.7 trillion cubic feet of gas can be extracted from the field based on a recovery rate of 72 to 73 per cent, with production expected to begin in about 40 months.