Azerbaijan, Baku, Jun.17/ Trend F.Karimov/
Drilling the first well at the phase 20 of Iran's South Pars gas field will be completed in less than a month, IRIB news reported.
The phase 20 is projected to produce 50 million cubic meters of gas, 75,000 barrels of condensates, and 400 tons of sulfur per day, as well as 1.5 million tons of liquefied gas and one million tons of ethane per year.
Iran is currently producing 300 million cubic meters per day of gas from the South Pars.
The gas field accounts for 8 percent of the global gas reserves. According to officials, the development of every one of the 24 phases of the gas field can cause a one-percent growth in the national economy.
The country, which sits on the world's first natural gas reserves, has been trying to enhance its gas production by increasing foreign and domestic investments, especially in the South Pars gas field.
The South Pars gas field 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, i.e. North Dome, are in Qatar's territorial waters.
The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world's reserves, and more than 18 billion barrels of LNG resources.
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