Minister of Oil Mohsen Paknejad announced the discovery of the largest gas field on land in Iran in recent days.
“Pazan” gas field with a reserve of 10 trillion cubic feet of gas in the south of Fars province; a field whose development plan contract was signed on Ordibehesht 21, 1404 in the presence of Hamid Bord, CEO of the National Oil Company, Javad Zarepour, CEO of Petrofarhang Holding, and the CEOs of Bakhtar Group and Hana Energy Gostar, so that Petrofarhang’s first step in the upstream oil industry will be the highest step in the beginning of a new chapter in the future of this holding and Farhangian Reserve Fund.
Two years ago, the memorandum of understanding for this development plan was signed, but for various reasons it did not reach the desired result. After months of follow-up and the Supreme Leader’s emphasis on accelerating the process of national oil sector plans, this important matter was signed this year so that we can soon witness the start of its implementation. After 17 years, Petrofarhang is entering the upstream oil industry for the first time with the policy of the Farhangian Reserve Fund, so that it can take steps towards creating value for shareholders and playing its national role while developing midstream and downstream industries and power generation plants.