Iran discovers 26 trillion cubic feet of natural gas in Persian Gulf

The latest exploration operations at the Kish gas field, which is located in the Persian Gulf, show that it contains at least 66 trillion cubic feet of natural gas, which is a rise of 26 trillion cubic feet over previous estimates, according to an official of the National Iranian Oil Company.
And explorations are underway in the region to find new natural gas deposits, NIOC Exploration Department Director Mahmoud Mohaddess told the Mehr News Agency on Friday.

Earlier, National Drilling Company of Iran Deputy Director Mehran Makvandi said that 60,000 meters of drilling will be carried out at the Kish gas field, the Shana News Agency reported.

Oil Minister Rostam Qasemi recently said that the National Iranian Oil Company and its subsidiaries should finish drilling wells and start gas production as soon as possible.

He added that development and exploitation of the Kish gas field can boost the national economy.

Implementation of the development plan for the Kish gas field started in 2007. In addition to its 66 trillion cubic feet of in-situ gas, the field also contains about 514 million barrels of condensates.

Iran has the second largest proven gas reserves in the world after Russia.

Iran’s natural gas production capacity stands at around 554 million cubic meters per day, National Iranian Gas Company spokesman Majid Boujarzadeh said on February 5.

Boujarzadeh told the Pana News Agency that taking the gas imported from Turkmenistan into account, about 600 million cubic meters of natural gas is supplied across the country every day.

Iran exported over 7.6 billion cubic meters of natural gas during the previous Iranian calendar year, which ended on March 19, up 10.5 percent compared to the year before.