New gas field discovered in southern Iran

Pars Today – Iran’s Oil Minister has announced the discovery of a new gas field in southern Fars Province, saying the amount of gas discovered is equivalent to 15 years of production from one phase of the South Pars field.

According to Pars Today, citing IRIB, Iranian Oil Minister Mohsen Paknejad said in an interview with Iranian television on Sunday that more than 7.5 trillion cubic feet (TCF) of gas has been discovered in the new field, of which approximately 5.7 TCF is recoverable.

The Iranian oil minister explained that this volume of gas is equivalent to 15 years of production from one phase of South Pars.

Regarding the characteristics of the newly discovered gas field in southern Iran, Paknejad said the gas discovered at the Takhteh Gas Field in Fars Province is sweet gas, which will reduce development and production costs. He added that, in addition to natural gas, the field also contains a vast amount of gas condensates worth tens of billions of dollars.