Iran General NewsIran announces new gas field in Gulf

Iran announces new gas field in Gulf

-

AFP: A gas field with an estimated 11 trillion cubic feet in reserves has been discovered in the Gulf off the coast of Iran, Oil Minister Gholam Hossein Nozari said on Saturday.
TEHRAN (AFP) — A gas field with an estimated 11 trillion cubic feet in reserves has been discovered in the Gulf off the coast of Iran, Oil Minister Gholam Hossein Nozari said on Saturday.

“A gas field with an estimated reserve of 11 trillion cubic feet (311 billion cubic metres) was found by an Indian company in the Persian Gulf,” Nozari told a news conference.

Nozari declined to reveal the name of the company but said “there will be talks with the discovering company for (the field’s) development if they are interested.”

Iran has the world’s second-largest proven gas reserves after Russia and has ambitions to export gas to a host of countries including Armenia, Pakistan, Syria.

Despite vast gas reserves, the country has not grown to be a major international exporter due to slow progress in exploiting its fields combined with a lack of foreign investment.

Despite its export plans, Iran has recently been forced to import gas from neighbouring Turkmenistan to cover high domestic consumption.

The imports were stopped at the end of December due to what Turkmenistan called technical hitches. They have yet to be resumed.

Iran noramlly imports 20 to 23 million cubic metres (700 million to 810 million cubic feet) of gas daily from Turkmenistan — amounting to around five percent of its total consumption.

Iran’s only gas exports are to Turkey which usually receives around 20 million cubic metres (700 million cubic feet) each day.

Iran had to cut the exports to Turkey for three weeks earlier this year due to the combination of the lack of Turkmenistan gas and severe cold weather.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Iran talks tough ahead of nuclear talks

AFP: Iran has adopted a tough and uncompromising stance...

Western concern on nuclear programme “big lie” – Iran

Reuters: Iranian President Mahmoud Ahmadinejad, on a visit to...

You might also likeRELATED
Recommended to you