Iran has announced the discovery of more than 212 billion cubic meters of natural gas reserves in the southern province of Fars, in a major boost to the country’s energy outlook.

Petroleum Minister Mohsen Paknejad said more than 160 billion cubic meters of the newly discovered gas could be commercially recoverable from the field, Xinhua reports.

Iranian authorities are taking urgent steps to begin developing the field as soon as possible, the minister said.

Paknejad described the discovery as “sweet” natural gas, meaning it contains very low levels of hydrogen sulphide. This could help lower the costs associated with developing and operating the field.

The announcement comes as Iran’s energy sector continues to face significant pressure from US sanctions and damage to infrastructure following months of US-Israeli strikes.

Paknejad said the discovery could “serve as a very strong foundation for the country’s energy future,” highlighting its potential importance for Iran’s domestic energy supply and broader energy strategy.