Iran to inaugurate 3 South Pars phases by March 2013

Business Materials 14 September 2012 14:46 (UTC +04:00)

Azerbaijan, Baku, Sep.14/ Trend F.Milad/

Three phases of Iran's South Pars gas field will be inaugurated by the end of the current Iranian calendar year (March 20, 2013), said the managing director of Pars Oil and Gas Company Mousa Souri said, Mehr reported.

"The phases 15, 16, and 12 will come on stream by the end of the year and will start early production," Souri said.

Overall, the three phases are projected to produce 25 million cubic meters of gas per day, he added.

Souri said on April 4 that some 86 billion cubic meters of natural gas was produced in the South Pars gas field over the past Iranian calendar year

Oil Minister Rostam Qasemi has ordered all the contractors of the South Pars gas field development projects to work round the clock in three shifts to complete development of all phases, especially the phases 12, 15, 16, 17 and 18.

Iran has attached the priority on boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia, Qasemi said.

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.