Islamic Republic’s oil minister predicts the field could produce 1 billion cubic feet of gas a day for 15 years, though any new production will likely take some time to materialize
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Iran said on Sunday it had discovered more than 200 billion cubic meters (7.5 trillion cubic feet) of natural gas, months into the Middle East war that has hit the country’s energy infrastructure and production.
“New gas reserves were discovered in the south of Fars province,” Oil Minister Mohsen Paknejad told state television, adding that over 160 billion cubic meters (5,700 billion cubic feet) could be extracted from the field, which he predicted could be in operation for 15 years producing over 280 million cubic meters (around 1 billion cubic feet) of natural gas per day — a fraction of the country’s estimated daily natural gas consumption.
