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Iran to launch South Pars Phases 15&16

Oil&Gas Materials 18 September 2011 18:19
Iran will launch South Pars Phases 15 and 16 by the end of current solar year (started on March20,2011), ILNA reported quoting Managing Director of Pars Special Economic Energy Zone (PSEEZ) Piruz Musavi as saying.
Iran to launch South Pars Phases 15&16

Azerbaijan, Baku, Sept. 18 /Trend A. Qurbanova/

Iran will launch South Pars Phases 15 and 16 by the end of current solar year (started on March20,2011), ILNA reported quoting Managing Director of Pars Special Economic Energy Zone (PSEEZ) Piruz Musavi as saying.

"If there is no financial problem phase 15 and 16 of South Pars will be launch by second half of current year," he said.

Development plan of Phase 12 of South Pars will be completed in next year(starts on March20,2012), he added.

He noted Iran will increase its gas production from joint field with Qatar in next three years and it's even possible to surpass Qatar's production level.

The South Pars gas field is located in the Persian Gulf on a border zone between Iran and Qatar. The field's reserves are estimated at 14 trillion cubic meters of gas and 18 billion barrels of liquefied natural gas.

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.

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