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August 23, 2026 at 05:17 PM
Iran Announces 7.5 Trillion Cubic Foot Gas Find as War Damage and US Sanctions Squeeze Its Energy Sector
Iran's Oil Minister Mohsen Paknejad told state broadcaster IRIB on Sunday, August 23, 2026, that Iran has discovered more than 7.5 trillion cubic feet of natural gas in a field in the southern Fars province. Roughly 5.7 trillion cubic feet of that is recoverable, based on a recovery factor of about 72 to 73 percent, according to Paknejad's comments carried by Xinhua.
Paknejad called the gas "sweet," meaning it carries low levels of hydrogen sulphide according to CBS News and LiveMint. That lowers development and operating costs compared to sour gas fields. He said the find adds "tens of billions of dollars" to Iran's national wealth and includes significant gas condensate reserves, per Xinhua.
For scale: the recoverable volume is roughly equiv
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