Iran Discovers New Gas Field in South Pars Complex

The Iranian Ministry of Oil has announced the discovery of a new gas field in the South Pars complex, located in the province of Fars. The new deposit is estimated to have a capacity of 21 billion cubic meters of gas, with around 73% being technically recoverable.

This would equate to about 15 years of production from one phase of the South Pars/North Dome complex, which is considered the largest gas deposit on the planet. The new field is jointly exploited by Iran and Qatar in the Persian Gulf.

The announcement comes after Secretary General Erfan Afazali warned that US and Israeli attacks had reduced gas production capacity by approximately one third, posing a risk of supply shortages during the upcoming winter season.