Iran Discovers Major New Natural Gas Reserve in Fars Province
Iran has announced the discovery of a new natural gas field in southern Fars Province, with more than 7.5 trillion cubic feet (TCF) of proven reserves.
Iran’s Ministry of Oil said that, based on a recovery rate of more than 72%, around 5.7 trillion cubic feet of gas could potentially be recovered and brought into use.
The discovery could strengthen Iran’s long-term energy potential, although developing the field for commercial production will depend on investment, technology and the country’s sanctions environment.