On the 23rd Iran’s oil minister Paknezhad said a gas field in southern Fars
contains provincial proven reserves exceeding 7.5 trillion cubic feet (TCF); with
an indicated recovery rate above 72% this implies roughly 5.7 TCF recoverable.
He said the gas is sweet, lowering development and extraction costs, and that
the discovery includes substantial condensed volumes that could be worth
hundreds of billions of dollars to the state.
