The discovery adds to Iran’s 7.5 trillion cubic feet gas reserves, equivalent to one South Pars block, amid U.S. sanctions.
Iran announced a new natural gas discovery in Fars province, estimating 7.5 trillion cubic feet of reserves, with 5.7 trillion recoverable. The oil ministry said the find matches one block of the South Pars field and could supply gas for 15 years.
Iran holds the world’s second-largest gas reserves after Russia. The discovery’s sweet gas composition may lower development costs, though U.S. sanctions continue to pressure the country’s energy sector.
No immediate market reaction was reported, but the find could bolster Iran’s long-term energy export potential despite geopolitical constraints.