Iran reports discovery of 7.5tcf of natural gas reserves in Fars province

Iran reports discovery of 7.5tcf of natural gas reserves in Fars province Shree Mishra Mon, August 24, 2026 at 6:57 AM EDT 3 min read Iran has discovered more than 7.5 trillion cubic feet (tcf) of natural gas in the southern province of Fars, Oil Minister Mohsen Paknejad claimed on state television, Bloomberg reported. The announcement comes after months of conflict involving the US and Israel, which has severely affected Iran's energy infrastructure. Of the estimated reserves, Paknejad said that around 5.7tcf of gas is thought to be recoverable. The minister compared the potential output to 15 years' worth of production from one phase of the South Pars field, which is jointly operated by Iran and Qatar and recognised as the world's largest gas field. The discovery also includes quantities of gas condensates, which Paknejad valued in the "tens of billions of dollars". Despite the find, Paknejad acknowledged that bringing the new field into production would likely take several years. Iran's energy sector continues to grapple with long-standing issues including international sanctions, delays in investment and repeated power outages. Recent attacks since late February, attributed to joint US-Israeli action, have further damaged facilities and reduced Iran's daily gas production capacity by roughly a quarter, including critical impacts on South Pars. Efforts to repair infrastructure have restored part of this lost capacity, but officials have cautioned that gas shortages may per…