Paknejad announced on Monday that the discovery will add an estimated 10 trillion cubic feet (TCF) of Iran’s gas reserves.
He added that exploration efforts in Pazanfield, located in South Fars and heading north of Buchere, have led to this important discovery.
Pazanfield is located about 21 kilometres from Jamme city in Buchere province, and added that these exploratory work has increased Iran’s gross gas reserves by 10 trillion cubic feet.
Paknejad said that after an eight-year break in exploration activities at the site, the drilling of the second exploratory well has recently been completed, with significant results.
He further said that the development contract for Pazan oil and gas fields has been awarded and operations are expected to begin soon. Production from the field is expected to begin within 40 months, he added.
MNA