Oil Minister Announces Discovery of a 7.65 Trillion Cubic Foot Gas Field in Southern Fars Province

Oil Minister Mohsen Paknejad confirmed the discovery of a new gas field in southern Fars province holding roughly 7.65 trillion cubic feet of gas in place (more than 7,500 billion cubic feet), according to a Mehr News Agency report published Sunday, Shahrivar 1, 1405 (August 23, 2026). He said that accounting for the recovery factor, about 5,700 billion cubic feet of gas could be extracted from the field, a volume he said is equivalent to 15 years of gas supply for one phase of South Pars.

Paknejad added that the field's gas is "sweet," a quality that lowers development and operating costs, and that it also holds a significant volume of gas condensate worth tens of billions of dollars. He said the oil ministry would work to plan and execute the field's development as quickly as possible.