Iranian oil minister: South Pars' phases 15,16 may come on stream next calendar year

Business Materials 26 August 2013 14:56 (UTC +04:00)

Azerbaijan, Baku, Aug.26/ Trend F.Karimov/

The phases 15 and 16 of the South Pars gas field may come on stream in the second half of the next Iranian calendar year, which starts on March 21, 2014, ISNA quoted Iranian Oil Minister Bijan Namdar Zanganeh as saying.

The development of the two phases requires much work to be completed, he added.

Zanganeh said on Thursday that the Oil Ministry has a special focus on completing and inaugurating the South Pars' gas field phases 12, 15, 16, 17, 18.

He also went on to note that, all capacities and facilities should be used for inauguration the phases as soon as possible.

South Pars is a joint gas field of Iran and Qatar. The field on the Iranian side holds 14 trillion cubic meters of gas and has been divided into 29 phases, phases 1 to 8 have been developed completely, Phases 9 and 10 has been operated, but not to full capacity and phases 11 to 29 are under construction.

During the past three years from their inauguration, Phases 9 and 10, these phases have not been developed completely and their output in total is 42 mcm/d, instead of the anticipated 50 mcm/d.

Development process of the phases 27 and 28 have not been started, while based on official announcement of the Pars Oil and Gas Company in April, some of the South Pars phases have been partially completed (phase 13 by 61 percent, 14 by 47 percent, 19 by 61 percent, phases 20-21 by 46 percent, and phases 22-24 by 60 percent).

So far, $46 billion has been invested in phases 11-24 of the gas field, but no single phase has come on stream yet. This is while that the total investment in phases 11 to 24 of South Pars had been estimated to be less than $40 billion.