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UAE produces oil and gas twice more than Iran from SP

Oil&Gas Materials 13 July 2011 16:25
UAE produces oil and gas twice more than Iran from SP

Azerbaijan, Baku, July 13 /Trend D.Khatinoglu/

Iran's daily production from the South Pars joint field with UAE is 200 million cubic meters of natural gas, while the United Arab Emirates produces two times more oil and gas from South pars, the Mehr News Agency reported quoting Iran Oil Ministry caretaker Mohammad Aliabadi as saying.

"People are unsatisfied with Iran's level of development in joint fields, we should increase public investment on this field," he said.

According to Aliabadi the United Arab Emirates produced 470 million cubic meters of gas and 400,000 barrels of oil per day from South Pars.

Previously Chief of the Parliamentary Energy Commission Hamidreza Katuzian said the government halted many development plans to pay the cutting subsidies and it used part of South Pars development budget to pay for subsidies.

Member of the Parliamentary Energy Commission Moayyed Hossieni Sadr told Trend earlier some Phases of South Pars oil field are 10 to 30 percent behind the schedule.

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.

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