NIOC makes largest global gas discoveries since 2025
Iran has made the world’s largest volume of gas discoveries since 2025, with two fields in the southern province of Fars, Hamid Bovard, CEO of the National Iranian Oil Company (NIOC), said on Wednesday.
Bovard added that the Takhteh and Pazan fields contained a combined 17.5 trillion cubic feet (tcf) of gas, equivalent to about 500 billion cubic meters (bcm), Shana reported.
The new finds add about 1.46% to Iran’s proven gas reserves. The country holds around 34 trillion cubic meters of gas, making it the world’s second-largest after Russia, with around 17% of the global total.
“Takhteh accounts for 7.5 tcf of gas in place (212 bcm), of which 5.5 tcf (155 bcm), is recoverable,” Bovard said.
The NIOC had earlier put Takhteh’s value at about $45 billion. The field contains about 27 million barrels of condensate, of which around 20 million barrels are recoverable, Mohyeddin Jafari, head of NIOC’s exploration department said last month.
According to Jafari, Takhteh’s gas is “sweet”, meaning it does not require sweetening, potentially allowing faster development and processing
Pazan, also in Fars, was announced in October as Iran’s largest independent onshore gas field. It holds about 10 tcf (283 bcm) of gas in place, with 7 tcf (198 bcm) recoverable and an estimated value of $100 billion.
Bovard said the NIOC planned to increase exploration drilling and seismic surveys in northeastern, northern and northwestern Iran to tap new hydrocarbon resources and help narrow the country’s energy supply-demand gap.