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Iran exports 2nd gas condensate consignment from South Pars phase 12

Oil&Gas Materials 17 August 2014 15:00 (UTC +04:00)

Baku, Azerbaijan, Aug.17

By Fatih Karimov - Trend:

Iran has exported the second consignment of gas condensates from the South Pars gas field's phase 12.

National Iranian Oil Company managing director Roknoddin Javadi said 1.15 million barrels of gas condensates were exported to the United Arab Emirates and China, Iran's Shan news agency reported on August 17.

Some 30,000 barrels of gas condensates is being produced from the phase 12 of the south Pars gas field.

The country has recently started producing 14 million cubic meters of gas from the Phase 12.

The phase's output is scheduled to reach to 28 million cubic meters by June, Iranian oil minister, Bijan Namdar Zanganeh said on April 28, the country's IRIB news agency reported.

The output of the Phase 12, itself is equal to total output of three phases of the gas field, Zanganeh said, adding that so far some $6 billion were invested in Phase 12.

The South Pars field has 14 trillion cubic meters of natural gas -or about eight percent of the world's reserves- and more than 18 billion barrels of liquefied natural gas resources.

The field is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.

Iran's share of the gas field is divided into 29 phases, but just 10 phases are currently operational. No phases of the South Pars gas field have recently come on stream.

Iran sits on the world's largest natural gas reserves. The country's estimated reserves are around 33.6 trillion cubic meters.

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