Iran Discovers 7.5 Trillion Cubic Feet Gas Reserve

Iran announced the discovery of a major natural gas field in Fars Province on 23 August 2026. The field contains over 7.5 trillion cubic feet of gas, equal to about 212.4 billion cubic metres, and about 5.7 trillion cubic feet is estimated to be commercially extractable.

Natural Gas Reserve Classification

Natural gas reserves are commonly classified as proven, probable, and possible reserves in petroleum geology. Proven reserves are quantities that geological and engineering data show with reasonable certainty to be recoverable under existing economic and operating conditions.

The Iranian field has been described as “sweet gas”, a term used for natural gas with low hydrogen sulphide content. Sweet gas generally requires less treatment than sour gas, which contains higher levels of sulphur compounds.

Gas Condensate and Recovery Rate

Gas condensate is a liquid hydrocarbon that condenses from natural gas when pressure and temperature change during production. Fields with condensate can produce both gas and liquid hydrocarbons, which are valued in petroleum processing.

The estimated recovery rate for the Iranian discovery is about 72% to 73%, based on the reported gap between total gas in place and commercially extractable gas. Recovery rate is a standard petroleum metric used to estimate the share of hydrocarbons that can be produced from a reservoir.

Iran’s Gas Sector and Regional Context

Iran holds the world’s second-largest proven natural gas reserves, at nearly 34 trillion cubic metres, after Russia. The country is a member of the Gas Exporting Countries Forum, an intergovernmental organisation of major gas-producing states.

The new discovery comes after the Pazan field discovery in October 2025, which spans Fars and Bushehr provinces and contains 10 trillion cubic feet of gas and 200 million barrels of crude oil. Fars Province is one of Iran’s southern provinces and is part of the country’s hydrocarbon-bearing Zagros Basin region.

Important Facts for Exams

• One cubic foot equals about 0.0283 cubic metres in standard gas conversion.
• Hydrogen sulphide is a toxic gas compound commonly associated with sour natural gas.
• The Gas Exporting Countries Forum was established in 2001 and is based in Doha, Qatar.
• Gas condensate is also called natural gas liquids in some petroleum contexts.

Iran’s reported gas reserve discovery was announced on 23 August 2026. The country’s proven natural gas reserves are among the largest in the world.