Azerbaijan, Baku, Jul.17/ Trend F.Milad/
Development of the largest phase of the South Pars gas field, south of Iran, is nearly 80 per cent complete, according to the Shana News Agency.
Phase 12 is projected to produce three billion cubic feet of natural gas, equivalent to the total output of three average phases of the South Pars.
Some $7.4 billion should be invested in the development of phase 12 both in the onshore and offshore sections as well as in the maritime installations.
The first jacket platform of phase 12 will be installed in the summer, said the managing director of Petropars Company in May.
The Shana News Agency quoted Mohammad-Javad Shams as saying that the second platform will be installed in the second half of the current Iranian year, which ends on March 20, 2013.
On March 14, the Mehr News Agency quoted deputy oil minister Javad Owji as saying that Iran will inaugurate six phases of the South Pars gas field by the end of the current year.
Once the phases come on stream, the gas field's output will be increased by 200 million cubic meters (mcm) per day to 500mcm, Owji added.
Meanwhile, the National Iranian Oil Company (NIOC) managing director said in December 2011 that seven phases of the South Pars gas field will certainly come on stream and start early production in the current year.
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 per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.
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