On the 23rd Iran’s oil minister Paknezhad said a gas field in southern Fars province contains 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 condensate volumes that could be worth hundreds of billions of dollars to the state.

2026-08-23

On the 23rd Iran’s oil minister Paknezhad said a gas field in southern Fars province contains 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 condensate volumes that could be worth hundreds of billions of dollars to the state.