Mohsen Paknejad, Iran’s Oil Minister announced the discovery of more than 7.5 trillion cubic feet (Tcf) of gas in southern Fars Province, saying that, with a recovery factor of about 72%, around 5.7 Tcf of gas could be recoverable from the field.
According to News Website of Iran’s Oil Ministry, Paknejad said on Sunday, August 23, ahead of Government Week, the field’s recoverable gas volume is equivalent to the capacity needed to supply one phase of the South Pars gas field for around 15 years.
Paknejad emphasized that the gas is “sweet” gas, which would reduce both the costs of field development and operating the field.
The minister added that, alongside the huge gas reserves, the field also contains significant volumes of gas condensate.
He stressed the need to accelerate development of the field, saying planning and development operations should begin as soon as possible so that its potential can be utilized quickly and the produced gas supplied to industry and other energy-intensive sectors.