The discovery adds a significant new resource to Iran’s hydrocarbon
reserves as the country seeks to expand gas production and address growing demand
from industry and other energy-intensive sectors.
Paknejad said the recoverable volume, based on an estimated recovery
factor of about 72%, is equivalent to the amount of gas required to supply one
phase of the South Pars gas field for roughly 15 years.
The newly discovered gas is described as “sweet,” a characteristic
that could reduce both development and operating costs by limiting the need for
processing to remove sulfur and other impurities.
Potential for Billions of Dollars in New Wealth
The field also contains significant volumes of gas condensate,
potentially adding substantially to the economic value of the discovery.
Paknejad said the combined value of the gas and condensate could
create tens of billions of dollars in new wealth for Iran, although the
ultimate economic value will depend on development costs, production rates,
market conditions and the timing of commercial output.
The discovery comes as Iran continues efforts to identify and develop
new hydrocarbon resources amid persistent pressure on its gas balance and
rising domestic consumption.
Development Seen as Next Priority
Paknejad called for the field to be developed as quickly as possible,
saying planning and development operations should begin without delay.
The government aims to bring the new reserves into production in the
shortest feasible timeframe and direct the resulting gas toward industry and
other energy-intensive sectors.
The discovery could become strategically important for Iran’s gas
system if the field can be brought onstream efficiently. Beyond adding
reserves, faster development would provide another potential source of supply
for industries that depend heavily on natural gas, including petrochemicals,
power generation and other energy-intensive operations.
For Iran, the challenge now shifts from exploration to execution:
converting a major underground resource into reliable production and,
ultimately, into a sustained source of energy and exportable value.