Azerbaijan, Baku, September 27 / Trend A. Yusifzade /
Investment in the development of Iran's South Pars gas field in the Persian Gulf must total $21 billion, Iranian Parliamentary Energy Commission head Hamidreza Katouzian said, adding that only $4 billion has been so far been invested in the field.
Katouzian criticized the government because it has not paid enough attention to signing oil and gas contracts, he believes.
Commenting on the current state and prospects of the Iranian oil and gas industry, Katouzian noted the need for transparency in this area, Ilna agency said.
Although more than 20 years have passed since the opening of the South Pars field, Iran is behind Qatar in technological and investment terms, as well as capital construction projects, including the plans to build refineries and conduct drilling, Katouzian said.
From an economic point of view, the country with the greatest volume of gas production in South Pars field of the Persian Gulf will be successful.
Besides the problems of exploitation and processing of gas, all foreign companies willing to work in this field were replaced by Iranian companies about four or five months ago. But this is irrational from an economic point of view and the terms of the project on the use of the gas field, the Iranian Parliament representative said.
South Pars gas field is in the Persian Gulf in the border area between Iran and Qatar. The field lies at a depth of 3,000 meters.
The area of South Pars field is 3,700 square kilometers.
The process of developing a gas production project in South Pars field is divided into 28 phases.