Iran announces discovery of major gas field in southern Fars province
Press TV – August 23, 2026
Iran has discovered a major new gas field in southern Fars province, with recoverable reserves estimated at around 5.7 trillion cubic feet.
Speaking on state television on Sunday, Iran’s Petroleum Minister Mohsen Paknejad said the newly discovered field contains more than 7.5 trillion cubic feet of gas in total.
The recoverable volume, he added, is equivalent to about 15 years of production from phase one of the South Pars gas field.
The field, known as Takht-e, contains sweet natural gas, which has relatively low levels of sulfur compounds and is therefore expected to reduce development and operating costs, according to the minister.
Paknejad also said the discovery includes substantial quantities of gas condensate, a valuable hydrocarbon liquid produced alongside natural gas.
He put the value of the gas and condensate resources at tens of billions of dollars, saying the combined resources would create “a new source of wealth for the country.”
The minister further said that the government plans to move ahead to develop the field as quickly as possible, bringing its gas output into production and supplying it to industrial users and energy-intensive sectors.
The discovery could provide Iran with an additional source of natural gas at a time when the country is seeking to expand domestic production and meet growing demand from industry and the energy sector.
Iran has relied on domestic investment and expertise to develop its oil and gas fields since 2018, when the US imposed sweeping sanctions on the country’s energy sector.
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