Tehran – Iran has announced a major breakthrough in its energy sector with the discovery of vast natural gas and oil reserves in the Pazan gas field, located in the southern Fars province.

The discovery was made following the drilling of a second exploratory well at Pazan, Oil Minister Mohsen Paknejad said, according to Iranian state news agency Shana. The drilling was carried out following an eight-year pause in exploration activity at the site, he said.

“The Pazan field’s new 10 trillion cubic feet of gas — assuming a 70 percent recovery factor — could yield about 7 trillion cubic feet, equivalent to 7000 days of production from one phase of the South Pars gas field,” Paknejad was quoted as saying.

Located in the Persian Gulf, the South Pars field is the world’s largest gas field and

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