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Iran intends to double natural gas production

Oil&Gas Materials 10 December 2010 16:45 (UTC +04:00)

Azerbaijan, Baku, Dec.10 / Trend A.Yusifzade /

The average daily natural gas production in Iran has totaled about 600 million cubic meters, Iran intends to double production from the country's gas fields for the next four years, Iranian Deputy Oil Minister Javad Owji, who is also the managing director of the National Iranian Gas Company (NIGEC), was quoted by IRIB News Agency as saying.

Iran ranks second on the world's largest natural gas reserves after Russia. It has sought for a long time to promote itself as a transit route for oil and gas from Central Asian countries.

Earlier, the NIGEC managing director said that developing gas fields in the Persian Gulf is one of our top priorities. The gas extracted from the South and North Pars, Golshan, Ferdosi, Kish, Lavan, Farzad B, Balal, Salman fields will meet Iran's demand in domestic fuel. It will be also exported to Persian Gulf countries.

South Pars, known as the world's largest gas field, holds an estimated 50.97 trillion cubic meters (1,800 trillion cubic feet) of in-situ gas and roughly 50 billion barrels of condensate.

The Iranian share of the field includes reserves of about 14 trillion cubic meters of gas, which accounts for about eight percent of the total world gas reserves. The process of developing the gas production project from South Pars field is divided into 28 phases.

This gas field covers an area of 9,700 square kilometers, of which 3,700 square kilometers (South Pars) is in Iranian territorial waters and 6,000 square kilometers (North Dome) - Qatar's territorial waters.

According to BP, Iran's proven gas reserves hit 29.61 trillion cubic meters as of Jan. 1, 2010

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