Azerbaijan, Baku, April 19 / Trend S.Isayev, T. Jafarov/
South Pars' principal gas production of the so-called "35-month phases" will start next year in June, the managing director of Pars Oil and Gas Company Mousa Souri said, IRINN reported.
Souri made the remarks at the 17th International Oil, Gas, Refining, and Petrochemical Exhibition in Tehran.
Iran's 17th International Oil, Gas, Refining, and Petrochemical Exhibition started on April 18 in presence of several high ranking Iranian officials, and will last for four days. Companies form 44 countries would participate in the exhibition.
Souri said that Iran would require a little more time, 40 months in particular, to start the so-called "35-month phases" repetition production on South Pars.
"Iranian companies are working hard on the 13, 20, 21, 22, 24 gas phases, and we've achieved a lot more success than foreign companies," Souri said. "Iranian companies have completed 30 percent of work on those phases in 16 months, while foreign companies needed 51 months to complete works on 2,3,4,5 phases by 30 percent".
in 2010, because of the imposed sanctions on Iran, the gas production of six phases' on South Pars was transferred to Iranian companies. Six phases' cost is estimated at $21 billion.
In order to speed up the production on 13, 14, 20, 21, 22, 23,24 phases of South Pars, a time frame of 35 months was set. If the working companies would succeed in finishing the job earlier, they would be given a reward. If they fail to finish by the tine 35 months expire, then they will be fined.
The South Pars is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar.
According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic metres) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic metres) of natural gas condensates.