Iran’s Ministry of Petroleum announced a gas discovery of 7.5 trillion cubic feet in southern Fars province, with 5.7 trillion cubic feet recoverable, in a find that Minister Mohsen Paknejad said adds significant hydrocarbons to national reserves and reflects industry efforts to identify new resources.

The recoverable portion of the discovery equals 15 years of output from the first phase of South Pars, the world’s largest natural gas field, which is also in Iran.

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Paknejad said the field contains a substantial volume of condensate gas that will generate tens of billions of dollars for the Iranian economy.

According to the minister, the gas is sweet, a quality that considerably reduces both development operating costs and overall exploitation expenses.

Paknejad stressed the urgent need to accelerate field development to begin production as soon as possible, with output destined for industry and other high-energy-consumption sectors within the country.

Iran discovered more than 7.5 trillion cubic feet of natural gas in a field in southern Fars province, Oil Minister Mohsen Paknejad said on Sunday, according to state media.

Paknejad said more than 5.7 trillion cubic feet could be extracted based on an estimated recovery rate of…

— Iran International English (@IranIntl_En) August 23, 2026

These strategic advances came through the backing of domestic companies and technologies, implemented after TotalEnergies abandoned its Iranian operations and investments in 2018, following the United States government’s decision to reimpose sanctions on Iran’s oil industry and exports.

Iran holds the world’s second-largest natural gas reserves, at 33.6 trillion cubic meters, and the third-largest oil reserves, at approximately 200 billion barrels.

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