Iran Discovers Massive New Gas Field with 7,500 Billion Cubic Feet of Recoverable Gas

Iran has discovered a significant new gas field in southern Fars Province, according to Oil Minister Mohsen Paknejad. The newly found reservoir contains an estimated 7,500 billion cubic feet of gas, with a recoverable volume of around 5,700 billion cubic feet.

This amount is equivalent to one block of the South Pars gas field and could supply gas for 15 years, according to Paknejad. He also noted that the discovered gas is 'sweet', which reduces both development and operating costs.

The discovery also includes a significant volume of gas condensate, bringing tens of billions of dollars in new wealth to the country, as stated by Paknejad.