Iran Discovers Massive Gas Reserves in Fars Province
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Iran's Oil Minister Mohsen Paknejad announced the discovery of over 7.5 trillion cubic feet of natural gas in a field in the southern Fars province. With a recovery rate of around 72%, this amounts to approximately 5.7 trillion cubic feet of recoverable gas, equivalent to the output of one South Pars phase for 15 years. The gas is 'sweet', reducing development and production costs, and the discovery also includes large volumes of condensates, creating tens of billions of dollars in new value for Iran.
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Iran discovered more than 7.5 trillion cubic feet of natural gas in a...
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