SP Phase 12 to produce 33 b CF/D

Azerbaijan , Baku, June 6 /Trend/

Phase 12 of South Pars oil and gas field will expand production capacities to 33 billion cubic feet of gas per day (CF/D), Fars News Agency reported quoting South Pars gas field Phase 12 Manager Rasoul Fallahnejad as saying.

"Phase 12 is expanding and it is compete by 51 percent," he said.

In the process of development, it is planned to drill 12 gas wells with production capacity of 1 billion cubic feet heavy gas condensates.

The production of 75 million cubic meters of natural gas for country's gas pipelines and production of 10 million tons of LNG are also among the aims of Phase 12 development project.

"We use all the capacities to complete Phase 12 which is equivalent to three phases in South Pars," Fallahnejad said.

South Pars oil and gas field is one of the largest in the world and is expected to produce up to $130 billion in revenues per year.

The South Pars oil and gas field covers an area of 3,700 square kilometers and is located in 3,000 meters below the seabed.

The Iranian South Pars field is the northern extension of Qatar's giant North Field. The Iranian side accounts for 10 percent of the world's and 60 percent of Iran's total gas reserves. Iran's portion of the field contains an estimated of 436 trillion cubic feet of gas.