Iran has discovered a new gas field in southern Fars province containing more than 7.5 trillion cubic feet of gas, with associated gas condensate that Oil Minister Mohsen Paknejad said had brought “tens of billions of dollars of new wealth” to the country, as Tehran faces mounting US pressure over its energy trade.
Paknejad said on Sunday that about 5.7 trillion cubic feet of the gas could be recovered, based on an estimated recovery rate of 73%. The recoverable volume is equivalent to one block of Iran’s giant South Pars gas field and could supply gas for 15 years, he said, according to Iranian state media.
