Tehran, August 24, 2026 (Yes Punjab News)
Iran has announced the discovery of more than 212 billion cubic meters of natural gas reserves in the southern province of Fars, with authorities preparing to begin development of the field on an urgent basis.
Petroleum Minister Mohsen Paknejad told state television on Sunday that more than 160 billion cubic meters of gas from the newly discovered field could be commercially recoverable.
Paknejad described the resource as “sweet” natural gas, indicating that it contains very low levels of hydrogen sulphide. He said the characteristic could help lower the costs associated with developing and operating the field.
The minister said the discovery could provide “a very strong foundation for the country's energy future” as Iran continues to face pressure on its energy infrastructure from sanctions and recent military strikes.
The announcement comes amid heightened tensions between Iran and the United States over economic restrictions. Mohsen Rezaei, secretary of Iran's Supreme National Security Council, warned that Tehran would consider any country's participation in or support for what it described as the US economic war against Iran an “act of war”.
Rezaei said Iran could halt oil exports through the Strait of Hormuz and elsewhere in the Persian Gulf if the economic pressure continued.
His remarks followed US President Donald Trump's announcement of what he described as an unprecedented economic campaign against countries providing Iran with economic support.
The latest developments also cast uncertainty over diplomatic efforts between Washington and Tehran. The two countries signed a memorandum of understanding on June 18 aimed at ending the conflict in the region, including in Lebanon, with negotiations scheduled within 60 days. However, the talks remain uncertain following renewed escalation between the two sides last month.