Iran announces major gas discovery in southern Fars Province

Iran has announced the discovery of a significant natural gas field in the southern part of Fars Province, according to Oil Minister Mohsen Paknejad. The field is estimated to contain over 7.5 trillion cubic feet (212.4 billion cubic metres) of gas.

Minister Paknejad, speaking through state media on Sunday, indicated that based on the expected recovery ratio, approximately 5,700 billion cubic feet of gas could be extracted from the newly found reserve. He also noted that the gas is "sweet," a quality that typically lowers both development and operational expenses.

The announcement comes as Iran continues repair work on its energy infrastructure, which has suffered damage during the conflict with Israel and the United States. The country is also preparing for planned US sanctions that could add further economic pressure.

Before the war, Iran's production capacity was estimated at around 650 million cubic metres per day, equivalent to roughly 8.4 trillion cubic feet annually. The conflict, which began in late February, has significantly reduced output. However, a senior government official stated in July that Iran expects to restore about 100 million cubic metres per day of natural gas production capacity in the coming months, following strikes that cut output by approximately 230 million cubic metres per day.