Tehran, Iran, April 15
By Mehdi Sepahvand –- Trend:
Iran is going to inaugurate some major petrochemical projects February 16 which will add 2 million tons per year to the country’s petrochemical output, Mehdi Yusefi, CEO of Pars Special Economic Energy Zone said.
Phases 17, 18, 19, 20, and 21 of South Pars gas field will be accordingly inaugurated, Yusefi told Tasnim news agency April 15.
This will lead also to the production of thousands of tons of polystyrene and a value of $2 billion to Iran’s petrochemical products per year, he noted.
He also noted that over the past three years, Iran’s gas production at the shared field was doubled and the value of its exported products increased by 34 percent.
South Pars, located in southern region, is divided into 24 development phases, and contains 40 trillion cubic meters of natural gas.
It covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are in Qatar’s territorial waters and is called the North Dome.
The Islamic Republic is producing over 560,000 bcmpd of gas from South Pars, while the production level is projected to surpass 700 mcm/d by late 2018.
Qatar in early April announced that it was lifting the moratorium on the North Dome after 12 years, aiming to increase the gas and gas condensate output by 10 percent (400,000 barrels per day of oil equivalent).
Iran calls the field South Pars and plans to surpass Qatar’s output by May 2017, when its production capacity from the joint field reaches 540 million cubic per day (mcm/d).