Iran Uncovers Vast New Gas Field Exceeding 200 Billion Cubic Meter
An Iranian worker carries Iranian flags prior to an inauguration ceremony of a natural gas refinery at the South Pars gas field on the northern coast of the Persian Gulf, in Asaluyeh, Iran
Iran has discovered a gas field with reserves of more than 200 billion cubic meters, Iran’ s Oil Minister Mohsen Paknejad said.»More than 7.5 trillion cubic feet of gas have been discovered. With a recovery factor of over 72%, there is the potential to produce more than 5.7 trillion cubic feet of gas,» Paknejad told.The volume of discovered gas reserves is equivalent to more than 200 billion cubic meters, and the potential production volume is more than 160 billion cubic meters.The oil minister noted that the above volume of gas is equivalent to the volume that one phase of the South Pars field development could supply over the course of 15 years.
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