Iran has discovered new reserves of gas estimated at 11.4 trillion cubic feet of gas. Iran’s Oil Minister Seyed Kazem Vaziri Hamaneh has confirmed the discovery of a major gas field in the Fars province in Southern Iran, Press TV said.
Kazem Vaziri Hamaneh told reporters that the discovery was made in the last few days, adding that the gas would be used for domestic needs.
Located near Qir-Karzin in Fars, the new gas field is the third to be discovered in only two years with an estimated reserve of 11.4 trillion cubic feet. Hamaneh said, “Once drilled, the 17 wells in the new reservoir will be able to produce 30 million cubic feet of gas per day.”
He did not say when production could start.
Iran sits on top of the world’s second largest proven oil reserves after Saudi Arabia and the second biggest natural gas reserves after Russia. The country’s geo-strategic position and its already developed network of pipelines make it a potential key player in the world’s energy markets.