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Iran plans to boost gas output at western borders

Business Materials 11 February 2012 12:27 (UTC +04:00)

Azerbaijan, Baku, Feb. 11/ Trend F.Milad/

Iran plans to increase gas output at fields located along western borders of the country, managing director of the Iranian Central Oilfields Company, Mehdi Fakour told Mehr news agency.

Fakour added that development plans have commenced at four western gas fields, which will raise Iran's total daily gas output by 50 million cubic meters per day.

Iran's natural gas production capacity stands at around 554 million cubic meters per day, the National Iranian Gas Company spokesman said on February 5.

Majid Boujarzadeh told Pana news agency that taking the imported gas from Turkmenistan into account, some 600mcm of natural gas is supplied across the country per day.

Iran has exported some 7.6 billion cubic meters of natural gas since the beginning of the current calendar year, which started on March 21, 2011, up 10.5 percent compared with the same period last year, the NIGC's managing director Javad Owji has said.

Imports of natural gas amounted to around 9 billion cubic meters during the mentioned period of time, Owji added, IRNA news agency reported.

The National Iranian Oil Company's managing director Ahmad Qalebani has said that the country's daily oil and gas outputs should amount to five million barrels and 1.47 billion cubic meters by 2015.

Iran sits on the world's second largest natural gas reserves after Russia and is trying to grow its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

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