The newly discovered reservoir, located about 10 kilometers northwest
of Khonj in southern Fars, is surrounded by several existing gas fields,
including Eram, Homa, Shanul, Sefid Baghun, Sefid Zakhour and Halgan.
The reservoir contains sweet gas and gas condensates. Based on an
average gas price of 29 cents per cubic meter, its estimated economic value is
about $45 billion, Paknejad said.
Initial indications of gas reserves were confirmed in December 2024,
during the first months of the administration of President Masoud Pezeshkian.
Subsequent technical reports from exploratory wells confirmed the presence of
about 7.5 trillion cubic feet of gas, according to the minister.
Paknejad described the discovery as a sign of a more hopeful outlook
for Iran, particularly following a period of heightened uncertainty.
Gas Discovery Equivalent to 15 Years of One South Pars Phase
To illustrate the scale of the discovery, Paknejad said the
recoverable gas in the reservoir is equivalent to about 15 years of production
from one phase of the South Pars gas field.
The volume is also roughly equivalent to the annual gas consumption of
10 major, high-consumption Iranian provinces, or around seven years of
consumption in Isfahan province and six years of consumption in Tehran based on
recent consumption levels.
The discovery comes alongside confirmation late last year that the
estimated gas in place at Iran’s Pazan gas field had increased by 10 trillion
cubic feet.
Taken together, Paknejad said, the two developments represent an
unusually significant level of gas exploration success over a relatively short
period.
Energy Security Becomes Increasingly Important
The minister linked the significance of the discovery to growing
concerns over energy security around the world.
Reliable energy supplies have become an increasingly important concern
for developed economies, Paknejad said, adding that recent regional tensions
have further highlighted the risks surrounding the stability of global energy
supplies.
The Strait of Hormuz, which he described as a critical artery for
global energy flows, has also underscored Iran’s strategic position in the
international energy system.
Iran’s substantial hydrocarbon reserves, meanwhile, provide the
country with a potentially strong foundation for long-term energy security,
according to Paknejad.
He said greater certainty over energy supplies in the coming decades
could serve as a catalyst for economic and industrial development by providing
a more predictable foundation for long-term planning.
Turning Reserves into Value
Despite the strategic importance of new discoveries, Paknejad said
simply possessing large hydrocarbon reserves is not enough.
“Every new reserve discovery, including the latest reservoir, is a
fundamental strength in Iran’s future equations,” he wrote. “However, the
important priority is to direct the country’s energy resources toward creating
added value.”
That means improving energy efficiency, establishing more sustainable
patterns of consumption and fundamentally changing the way energy demand is
managed, he said.
Paknejad described more efficient energy consumption not only as an
economic necessity but also as a form of responsibility toward Iran’s future
generations.
The country’s current energy reserves, he said, should be regarded as
a strategic inheritance for future generations, providing them with the
security needed to continue Iran’s economic and industrial development.