Azerbaijan , Baku, Feb. 28 / Trend, A.Yusifzade /
Iran supplies 70 percent of the needed equipment for the South Pars gas field projects by domestic manufacturers, FNA reported quoting the Supervisor of the Public Relations of Pars Oil and Gas Company Mohammad Nour Mohammad as saying.
Earlier the managing director of the Pars Oil and Gas Company, Mousa Souri said that from 68 to 71 percent of the required goods on some new phases of South Pars gas field projects are being supplied by domestic manufacturers, Shana reported.
According to Souri, $9 billion have been invested at South Pars gas field since the beginning of the current Iranian calendar year (started March 21 2010).
Earlier Souri said that total investment for this year would climb to $11 billion.
"This year, absorption of financial resources has been unprecedented when compared with recent years," Souri said.
Referring to development of shared oil and gas fields specially South Pars gas field as the top priority of Iran's ministry of petroleum, Souri expressed hope that members of the parliament pay special attention to development of the remaining phases of South Pars gas field through allocating financial resources to the region.
The South Pars field is a gas condensate field located in the Persian Gulf. It is the world's largest gas field and is shared by Iran and Qatar. According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters (1800 trillion cubic feet) of in-situ gas and some 50 billion barrels of condensates.
Iran holds the world's second-largest reserves of natural gas and the third-largest reserves of oil.
Earlier Iran's First Vice President Mohammad Reza Rahimi said the country earns $10 million per day upon the launch of every phase of the South Pars gas field.
In July, the European Union imposed a new round of sanctions on Iran, which mainly sought to target investment and technical assistance to Iran's refining, liquefaction, and liquefied natural gas sectors.
Iran has in return stated that it will launch multibillion-dollar projects in the South Pars gas field with the help of its domestic expertise, experience, and financial resources.
The South Pars gas field is located in the Persian Gulf in the border zone between Iran and Qatar. The field's reserves are estimated at 14 trillion cubic meters of gas and 18 billion barrels of gas condensates.
The process of developing gas production projects in the South Pars Special Economic Energy Zone is divided into 28 phases.
The 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) is in Qatar's territorial waters.