Iran announces discovery of large gas field amid production losses

Iran has announced the discovery of a new gas field in the south of Fars province with reserves of more than 212 billion cubic meters of natural gas. According to the country's authorities, about 161 billion cubic meters of this volume can be extracted.

The discovery was announced by Iran's Oil Minister Mohsen Paknejad, who was quoted by state media.

According to him, the total volume of discovered reserves is about 212.4 billion cubic meters. Taking into account the expected recovery factor, approximately 161.4 billion cubic meters of gas can be extracted from the field.

Paknejad noted that this is the so-called sweet natural gas with a low content of hydrogen sulfide. This should reduce costs both for the development of the field and for its subsequent operation.

Iranian authorities say they will try to begin development of the new field as soon as possible. At the same time, the launch of industrial production may require several years.

Before the current war, Iran produced about 650 million cubic meters of natural gas per day, or about 240 billion cubic meters per year.

The discovery came amid serious problems in the Iranian energy sector. After strikes by the US and Israel on gas production facilities, oil storage facilities, and transport infrastructure, the country's production capacity has significantly decreased.

In July, Iranian officials reported that due to military actions the country had lost about 230 million cubic meters of daily gas production. The authorities expect to restore approximately 100 million cubic meters per day in the coming months.

Based on materials from: CNA, The Straits Times