Iran discovers new gas field with 7,500 billion cubic feet reserves in Fars
The discovery comes as Tehran works to restore damaged South Pars facilities while facing mounting economic pressure and fresh US sanctions threats
Iran has discovered a vast new gas field in the southern Fars Province, potentially containing 7,500 billion cubic feet of gas reserves, according to Oil Minister Mohsen Paknejad. The recoverable volume, accounting for a 73% recovery rate, could supply gas for 15 years. The gas is described as "sweet," reducing development and operational costs.
Additionally, the field includes gas condensate, which has generated substantial new wealth for the country. The discovery follows the partial restoration of production capacity at the Phase 14 refinery in the South Pars gas field, with three damaged trains restored to operation within a short period. The final damaged train is expected to return to production by the end of the Iranian calendar year.
Meanwhile, US President Donald Trump announced a comprehensive economic campaign against Iran, termed an "Economic D-Day," citing unprecedented sanctions and potential further measures.
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