Iran Discovers New Natural Gas Field

Iran has discovered a new natural gas field in the country’s Assalouyeh region. The reserve valued at $133 billion, holds about 495 billion cubic meters of natural gas.

National Iranian Oil Co. Managing Director Ahmad Qalehbani said the reserve contains 658 million barrels of gas condensates. The field has the capacity to produce up to two billion cubic feet of gas and 88,000 barrels of condensates daily, the Mehr news agency reported, citing Qalehbani.

Qalehbani noted that Iran discovered four gas fields in the last calendar year having a volume of 336 billion cubic meters of natural gas and 213 million barrels of condensates.

Iran intends to invest $15.8 billion for the development of the South Pars gas field. The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf.