Iran discovers over 7.5 trillion cubic feet of gas at new field in Fars province
Iran's Oil Minister Mohsen Paknejad said on Sunday that the country had discovered more than 7.5 trillion cubic feet (21.24 billion cubic metres) of gas reserves at a field in the southern province of Fars.
In a world where energy independence is becoming a key factor in geopolitical stability, every new field is not just a line in the reserves balance but a strategic resource that strengthens a state's position on the global stage. For Iran, already the world's second-largest holder of gas reserves, the new discovery reinforces its role as a key player in energy markets, especially amid global volatility and sanctions pressure. However, extraction itself requires technology, investment and political will, and it is these factors that will determine the real benefit of the found wealth.
According to Paknejad, in an interview with state television IRIB, given a recovery rate of about 72–73 per cent, nearly 5.7 trillion cubic feet of gas can be extracted from the field. "The new resources increase the internal value of the country's wealth by tens of billions of dollars," he said, adding that the field also contains significant gas condensate reserves.
Iran has been one of the world's leaders in natural gas reserves for decades. According to the Gas Exporting Countries Forum, the country holds nearly 34 trillion cubic metres of proven reserves. After Russia, Iran ranks second in the world. The new field in Fars province, located in the south where the country's main gas resources are already concentrated, could become an important addition to existing production.
However, most of Iran's gas is used for domestic consumption, and exports are constrained by sanctions and infrastructure problems. In recent years, Tehran has been actively developing extraction and processing technologies to increase its export share and attract foreign investment, but political restrictions remain a serious barrier.
As CCTV+ reports, the discovery of a new gas field in Iran confirms the country's vast resource potential and its continued importance on the world energy map. However, turning reserves into real revenues and global market influence will not be easy for Tehran: sanctions, technology shortages and domestic economic problems remain challenges that require systemic solutions. Nevertheless, any new field is not only a hope for economic growth but also a strengthening of Iran's negotiating position in future energy and geopolitical dialogues.
