Iranian Oil Minister Mohsen Paknejad announces the discovery of major new hydrocarbon reserves in the country, describing the finds as a significant asset for Iran’s future energy needs.
Paknejad made the announcement on the sidelines of a ceremony on Sunday, marking the renewal of allegiance to the ideals of the late Leader of the Islamic Revolution, Ayatollah Imam Khomeini, on the occasion of Government Week.
The minister said more than 7.5 trillion cubic feet of gas has been discovered in southern Fars province, adding that around 5.7 trillion cubic feet of the reserves are estimated to be recoverable.
Responding to a question about the impact of economic sanctions and pressure on Iran, Paknejad rejected fears of an illegal US blockade, saying, “I have good news to share about the discovery of new hydrocarbon reserves.”
He added that further details about the discovery would be announced at an appropriate time.
“By the grace of God and through the relentless efforts and hard work of our colleagues, a vast wealth of hydrocarbon reserves has been discovered, which will serve as a very strong foundation for the country’s energy future. Let’s start with the good news,” Paknejad said.
The announcement comes as Iran continues to face extensive economic sanctions that have affected key sectors of its economy, particularly its oil industry and access to international markets.
Despite the economic pressure, Iran has continued efforts to develop its domestic energy resources and strengthen its capacity to produce and export energy.
Source: IRNA