Production in Iranian South Pars field hits 210 million cubic meters per day

Oil&Gas Materials 8 October 2010 12:47 (UTC +04:00)

Azerbaijan, Baku, Oct.8 / Trend A. Yusifzade /

At present, gas production is about 210 million cubic meters per day at South Pars field's 10 phases. This gas is used for internal needs and is exported abroad, the National Iranian Oil Company quotes Pars Special Economic Energy Zone managing director Musa Suri as saying.

According to the Company, by commissioning South Pars field's all phases and at the cost of a barrel of oil at $50, annual revenue from the field will increase from %100 to $140 billion.

Suri urged the government to cooperate, and particularly the Iranian Oil Ministry for the accelerated development of the remaining phases of South Pars field.

According to BP, Iran's proved oil and gas reserves are 137.6 billion barrel and 29.61 trillion cubic meters. Iran ranks third in the world for oil reserves and second for gas reserves.