Oil Minister Mohsen Paknejad has announced the discovery of new gas and oil reserves in the Pazan field in the south of Fars Province, saying this find could help offset the country’s future energy imbalances.
Paknejad announced on Monday that the discovery would add an estimated 10 trillion cubic feet (tcf) of Iran's gas reserves.
He added that the exploration efforts in the Pazan field, located in southern Fars Province and extending toward northern Bushehr, have led to this significant discovery.
The Pazan field is situated approximately 21 kilometers from the city of Jam in Bushehr Province, he said, adding that these exploratory operations have increased Iran’s total in-place gas reserves by 10 trillion cubic feet.
Paknejad said that after an eight-year break in exploration activities at the site, drilling of the second exploratory well has recently been completed, marking a significant achievement.
He further noted that the development contract for the Pazan oil and gas field has been awarded, and operations are expected to start soon. Production from the field is projected to begin within 40 months, he added.
