In Fars Province, Oil Ministry Announces 7.5 Trillion Cubic Foot Gas Discovery

Iran's oil ministry has announced a new gas discovery in the southern province of Fars, estimated to hold 7.5 trillion cubic feet of gas, of which 73 percent, or 5.7 trillion cubic feet, is recoverable. According to Oilprice.com, citing Iranian media, Oil Minister Mohsen Paknejad said on Monday, August 24, 2026 (2 Shahrivar 1405), that the volume is equivalent to one block of the South Pars field and could supply gas for 15 years. He said the gas is sweet, which lowers development and operating costs. The oil ministry also said repairs at the South Pars field, damaged in the early days of the war, are now 70 percent complete, and that fully restoring the field will take at least three years.