Iran has discovered a major natural gas field in its southern Fars province with estimated reserves of 212 billion cubic meters, Iranian Oil Minister Mohsen Paknejad announced.
State news agency IRNA reported that roughly 160 billion cubic meters of the deposit are considered recoverable. The field also contains substantial volumes of gas condensate, bringing the total combined value of the discovery to tens of billions of dollars, according to Paknejad.
The oil minister announced the find during a ceremony celebrating Government Week. He stated that the discovery of huge hydrocarbon reserves would build a strong foundation for the country's energy future, with additional technical details to be released later.
Geological analysis classifies the fuel as dry or sweet gas because of its low sulfur content. This composition is expected to lower both extraction and operational costs during production.
Gas development in Fars province
Iran plans to begin developing the site as quickly as possible. The Islamic Republic continues to expand its oil and gas resources despite facing strict international sanctions and limited access to foreign technology and investment.
The nation relies heavily on domestic natural gas production. A large portion of the gas extracted across Iranian fields is consumed at home to supply industrial facilities and generate electricity.
Iran already holds vast energy reserves, including the South Pars field in the Persian Gulf, which it develops jointly with Qatar. South Pars is recognized as the largest natural gas deposit in the world.
The discovery comes while Iran's energy infrastructure faces severe damage from the ongoing Middle East conflict. The war began in late February with air strikes launched by the United States and Israel against targets across Iran, striking gas installations, oil storage tanks and transportation roads.
Strait of Hormuz shipping corridor
The energy announcement follows heightened confrontation in the Persian Gulf. United States President Donald Trump claimed that Washington had established full control over the region and described the Strait of Hormuz as American territory.
Trump said the military action was launched because Iran must never be allowed to obtain nuclear weapons, warning that very bad things would happen otherwise. He added that Iran was eager to negotiate a deal, though he questioned whether the United States was willing to enter talks.
Amid the military conflict, the US armed forces organized a secret maritime corridor to allow commercial ships to navigate the Strait of Hormuz. Two US officials said millions of barrels of crude oil pass through the passage each day, providing vital support to global energy supplies despite the broader war reaching a stalemate.
Although total shipping volumes remain below pre-war levels, the corridor ensures essential tanker transit. Under the military protocol, merchant vessels move each night in single large convoys, with outbound ships traveling during one designated time window and inbound vessels passing during another.
