ALBAWABA - Iran has announced a major breakthrough in its energy sector with the discovery of vast natural gas and oil reserves in the Pazan gas field, located in the southern Fars province.
According to Oil Minister Mohsen Paknejad, the new find adds approximately 10 trillion cubic feet of natural gas and at least 200 million barrels of crude oil to Iran’s proven reserves, marking the country’s most significant hydrocarbon discovery in nearly a decade.
Paknejad stated that the reserves were identified after an eight-year pause in exploration activities, revealing a newly drilled horizontal layer rich in oil that could yield even larger quantities upon further assessment.
Production is expected to begin within 40 months, with output levels projected to rival a single phase of the South Pars field, the world’s largest gas reservoir, shared between Iran and Qatar.
The discovery comes at a critical time as Iran faces rising domestic energy demands and ongoing international sanctions limiting foreign investment.
Officials say the Pazan find could help stabilize the country’s long-term energy supply, strengthen export capacity, and reinforce Iran’s standing as one of the world’s top holders of natural gas reserves.
Energy analysts note that the discovery underscores Iran’s continued drive to expand its hydrocarbon portfolio despite geopolitical constraints, positioning the country for renewed influence in global gas markets as production ramps up.
