Iran Discovers Significant Natural Gas Field
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Iran Discovers Significant Natural Gas Field
- Iran announced on Sunday, August 23, 2026, the discovery of a natural gas field in its southern Fars province containing over 7.5 trillion cubic feet of gas.
- According to Iranian Oil Minister Mohsen Paknejad, approximately 5.7 trillion cubic feet of the gas is recoverable, which he equated to 15 years of production from one phase of the South Pars field.
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On Sunday, August 23, 2026, Iran’s Oil Minister Mohsen Paknejad announced the discovery of a new onshore natural gas field in the southern Fars province. The field is estimated to hold more than 7.5 trillion cubic feet (212.4 billion cubic meters) of natural gas, with approximately 5.7 trillion cubic feet (161 billion cubic meters) considered recoverable. Paknejad stated that this recoverable volume is equivalent to about 15 years of production from one phase of the South Pars field, which is the world’s largest gas field and is shared by Iran and Qatar.
The newly discovered gas is described as “sweet,” meaning it has low levels of hydrogen sulfide and other sulfur compounds. This characteristic could help reduce development and operating costs. The minister also noted that the field contains significant volumes of gas condensate, which could add tens of billions of dollars in economic value. Paknejad emphasized the need for swift development of the field to supply energy-intensive industries and other sectors of the Iranian economy.
This discovery comes as Iran’s energy infrastructure has faced disruptions and damage since late February due to war with the United States and Israel. Strikes have reportedly cut Iran’s gas production capacity, with officials indicating a goal to restore about 100 million cubic meters per day of natural gas production in the coming months. Iran, which holds the world’s second-largest proven natural gas reserves after Russia, has also been contending with Western sanctions and underinvestment in its energy sector. The new find follows another discovery in October 2025 at the Pazan field, also in Fars province, which held an estimated 10 trillion cubic feet of gas.