And explorations are underway in the region to find new natural gas deposits, NIOC Exploration Department Director Mahmoud Mohaddess told the Mehr News Agency on Friday.

Earlier, National Drilling Company of Iran Deputy Director Mehran Makvandi said that 60,000 meters of drilling will be carried out at the Kish gas field, the Shana News Agency reported.

Oil Minister Rostam Qasemi recently said that the National Iranian Oil Company and its subsidiaries should finish drilling wells and start gas production as soon as possible.

He added that development and exploitation of the Kish gas field can boost the national economy.

Implementation of the development plan for the Kish gas field started in 2007. In addition to its 66 trillion cubic feet of in-situ gas, the field also contains about 514 million barrels of condensates.

Iran has the second largest proven gas reserves in the world after Russia.

Iran’s natural gas production capacity stands at around 554 million cubic meters per day, National Iranian Gas Company spokesman Majid Boujarzadeh said on February 5.

Boujarzadeh told the Pana News Agency that taking the gas imported from Turkmenistan into account, about 600 million cubic meters of natural gas is supplied across the country every day.

Iran exported over 7.6 billion cubic meters of natural gas during the previous Iranian calendar year, which ended on March 19, up 10.5 percent compared to the year before.

7 Comments on "Iran discovers 26 trillion cubic feet of natural gas in Persian Gulf"

Max Reid on Sat, 12th May 2012 3:27 pm 



So World has lot of Natgas, its high time, we convert our Ships, Trains, Trucks and Cars to this fuel.

Kenz300 on Sat, 12th May 2012 4:44 pm 



Long haul truckers are converting to LNG.

GM, Ford and Chrysler are selling CNG trucks.

Honda sell a CNG car.

Can CNG or LNG boats be next?

Ely Goldsmith on Sat, 12th May 2012 10:23 pm 



U.S natural gas price will be back to % 5 per mcf by years end due to demand from utilities such as Southern Co which, for the first time ever, has started to use more gas than coal.Anyone want to make some money. Buy natural gas stcoks, especially beat down CHK

Ely Goldsmith on Sat, 12th May 2012 10:23 pm 



U.S natural gas price will be back to % 5 per mcf by years end due to demand from utilities such as Southern Co which, for the first time ever, has started to use more gas than coal.Anyone want to make some money. Buy natural gas stcoks, especially beat down CHK

Rick on Sat, 12th May 2012 11:18 pm 



This is short-term hype. It won’t save us. And Iran won’t be selling LNG to the US. And if we invade Iran, then you can kiss the world goodbye. Stupid humans!

Rick on Sat, 12th May 2012 11:21 pm 



The above fools who think NG or LNG will save the US sheep, are complete fools. You are just trolls for corporate America.

BillT on Sun, 13th May 2012 4:37 am 



The US has no facilities to handle LNG. The gas hype will end as quickly as it begins. This is one more reason that the Empire is drooling over Iran. But even Obama seems to understand that it will not be another Iraq or Afghanistan. It will be another Vietnam. Russia is already moving troops to the northern border of Iran. They are going to step in on Iran’s side if there is any trouble. China will not be far behind. The Middle East will erupt in turmoil with most of those countries populations of Shiite Muslims siding with Iran. Then there is the Muslim populations in Europe, the US, etc.