Iran discovers major new natural gas reserves in Fars province

On Sunday, August 23, 2026, Iranian Petroleum Minister Mohsen Paknejad announced the discovery of a significant natural gas field in the southern Fars province. The find is estimated to contain over 7.5 trillion cubic feet, or approximately 212.4 billion cubic metres, of gas. According to the minister, the recoverable portion of this field is estimated at approximately 5.7 trillion cubic feet, or more than 160 billion cubic metres. The gas is classified as "sweet," meaning it has low hydrogen sulphide content, which is expected to lower development and operational expenditures.

The discovery occurs as Iran struggles to restore its energy infrastructure following significant damage from U.S. and Israeli military strikes that began in late February. These attacks reportedly reduced the country’s natural gas production capacity by 230 million cubic metres per day. While Tehran expects to restore 100 million cubic metres of daily production capacity in the coming months, the sector faces ongoing pressure from international sanctions. Authorities have stated that they are now taking urgent measures to begin development of the new field as soon as possible, viewing it as a vital foundation for the nation's energy future.