Iran announces discovery of gas reserves exceeding 200 billion cubic meters
Iran has announced the discovery of new natural gas reserves exceeding 200 billion cubic meters in the southern part of Fars province. Oil Minister Mohsen Paknejad told state television about this, Channel NewsAsia reports.
Reserves and potential production
According to Paknejad, more than 160 billion cubic meters of gas could be extracted from this gas field. He noted that it is so-called sweet natural gas with a very low content of toxic hydrogen sulfide. According to the minister’s assessment, this should reduce the costs of developing and operating the field.
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Bloomberg, cited by Channel NewsAsia, reports that new production at this site will likely only be possible in several years.
Situation in the energy sector
The announcement of the discovery came amid the war in the Middle East, which, according to Channel NewsAsia, has affected Iran’s energy infrastructure and production. The outlet reports that joint US and Israeli strikes launched in late February marked the beginning of the war, and that the countries later struck Iran’s gas production facilities, oil storage sites and transport routes.
