Iran has discovered 10 trillion cubic feet of gas reserves in the Pazen Gas Field.

Commodities News
Iran has discovered 10 trillion cubic feet of gas reserves in the Pazen Gas Field. Energy Minister Paknejad stated that the new reserves will contribute to solving the crisis.
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Iran's Gas Reserve Discovery: Major Activities in the Pazan Gas Field

According to Iranian state television, Iranian Oil Minister Mohsin Paknejad announced that a large gas reserve has been discovered in the Pazan Gas Field located in the southern part of Fars province.

Details and Size of the Discovery

Paknejad stated that the reserve was identified as part of the oil and gas discoveries made in the southern part of the country. "The exploration activities conducted in the area stretching from the Pazan field in southern Fars province to the north of Bushehr contributed to the finding of this significant reserve," he said.

The minister expressed that there are 10 trillion cubic feet (approximately 283 billion 168 million cubic meters) of gas in this field, and if a recovery rate of 70 percent is achieved, at least 7 trillion cubic meters of gas could be obtained.

A Solution to Iran's Energy Needs

Paknejad emphasized that these new reserves are expected to play a significant role in meeting Iran's increasing energy demands in the future. However, he also added that substantial investments are required for the development of large gas fields to confront Iran's energy crisis.

International Energy Perspective

According to a report by the U.S. Energy Information Administration (EIA) from 2021, Russia holds the largest proven natural gas reserves in the world with 47 trillion cubic meters, while Iran is second with 34 trillion cubic meters. Iran holds approximately 17 percent of the world's proven gas reserves.

However, especially U.S. economic sanctions make it difficult for Western energy companies to establish commercial relations with Iran. For instance, after the sanctions imposed in 2018, the French energy giant Total had to withdraw from the Iranian market.

Current Situation and Energy Shortages

Additionally, due to economic sanctions leading to energy shortages and insufficient infrastructure investments, an increasing demand for energy has been observed in Iran in recent months. One of the countries with the largest natural gas and oil reserves in the world, Iran is compelled to take urgent measures to cope with this crisis.

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⚖️ Yasal Uyarı:Bu içerik yatırım tavsiyesi niteliği taşımaz. Yatırımlarınızla ilgili kararlarınızı kendi araştırmalarınız ve risk profilinize göre almanız önerilir.

Iran gas reserves, Pazen Gas Field, Mohsen Paknejad, natural gas, energy crisis, US sanctions

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