24 Aug Iran announces 7.5-Tcf natural gas discovery
(Oilandgaspress) 24/08/26 -Iran reportely said it discovered more than 7.5 trillion cubic feet of natural gas, after months of war with the U.S. and Israel seriously disrupted its energy sector.
Around 5.7 Tcf of the find in the country’s southern Fars province is recoverable, Oil Minister Mohsen Paknejad told state TV on Sunday. He described it as equivalent to 15 years of production from one phase of the world’s biggest gas field, South Pars, which Iran shares with Qatar.
The discovery also includes gas condensates worth “tens of billions of dollars,” Paknejad said, adding that the Islamic Republic plans to develop the resources “as soon as possible.”
Any production would likely be years away. Even before the war began, Iran’s energy industry was hobbled by Western sanctions, under-investment and power cuts.
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