Iran says it has discovered more than 7.5 trillion cubic feet of natural gas in southern Fars province, with about 5.7 trillion cubic feet estimated to be recoverable. The announcement comes as Tehran faces growing pressure over its ability to export oil.
Iranian Oil Minister Mohsen Paknejad announced Sunday the discovery of a major natural gas deposit in Fars province, describing it as a significant addition to the country's national wealth.
The field contains more than 7.5 trillion cubic feet of gas, according to Paknejad. Based on an estimated recovery rate of more than 72%, around 5.7 trillion cubic feet could ultimately be extracted.
‘Sweet gas’ could lower costs
Paknejad said the deposit has an important advantage: the gas is classified as "sweet gas", meaning it contains relatively low levels of sulphur compounds.
