Iran says it discovered a natural gas reserve that could create $40 billion in revenue

CNN ^ | Oct. 13, 2019 | Artemis Moshtaghian

[Innovative]

Iran announced on Sunday that it has discovered a new natural gas reserve with the capacity to produce nearly 400 million barrels of gas condensate, which could generate a total of $40 billion.

The natural gas field, named Eram, is located near the Persian Gulf in the southwestern province of Fars and holds about 19 trillion cubic feet of gas, National Iranian Oil Company (NIOC) Deputy Managing Director Reza Dehghan said at a press conference.

"We have the potential to identify more undiscovered oil and gas reserves (in the country) by using geophysical exploration techniques and discovery drilling and will definitely add to Iran's national wealth," Dehghan said.

[Innovative]

Excellent.

They should focus on that and not keep attacking outsiders.

[Ancient Man]

When will we get Obama’s bribe money back?

[inchworm]

Matt Damon should go there and organize an anti fracking campaign

[HighSierra5]

With all this gas all over the planet it’s beyond stupid to convert to a “green” economy. It’s insane.

[rrrod]

I don’t believe them.

[FreedomPoster]

You want a preview of what the Green New Deal looks like?

Hit the blackout areas of California.

[Deaf Smith]

That little Trade Sanction the USA ( POSTUS Trump) imposed puts a damper on their NG discoveries.

[Don Corleone]

Does AOC know about this abomination?

[etcb]

Now if they only had the resources to develop such a find. I doubt their new Russian friends will be assisting them as that would reduce the value of their gas.

[Mastador1]

Now if they only had the resources to develop such a find. I doubt their new Russian friends will be assisting them as that would reduce the value of their gas.

Can you sat 'Guten Tag'?

[VanShuyten]

The Chicoms just a week or so ago pulled out of a development deal on an off shore oil field.

[TnTnTn]

Wow...that’s almost as much as bammy boy’s payoff....can buy a lot of terror with that....

[lurk]

That’s nice. Now they won’t need pallets of paper dollars.

[Oscar in Batangas]

is that product really worth $100 per bbl, or do they know something about supply v demand that the rest of us don’t know

[MadMax, the Grinning Reaper]

Where did they find it? When Joe Biden bent over and cut one?

[Zhang Fei]

[is that product really worth $100 per bbl, or do they know something about supply v demand that the rest of us don’t know]

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Natural gas producers are like every other commodity producer in the sense that they think their product should sell for a lot more than it actually does. Then the market disabuses them of that notion.