Iran to launch early gas production in South Pars phase 14

Oil&Gas Materials 15 October 2011 17:49 (UTC +04:00)

Azerbaijan, Baku, Oct. 15/Trend A. Gurbanova/

The National Iranian Oil Company completed the first offshore development plans in South Pars joint gas field and launched offshore drilling to start early gas production in Phase 14, Mehr News Agency.

Iran will extract about 2 billion cubic foot gas per day from joint field with Qatar within the phase 14 development plan.

Developing Phase 14 of South Pars delivered to domestic contractors within the contract worth $5.2.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

Iran eyes to double gas production to 1.2 billion cubic meters of gas per day. Iran has the world's second largest natural gas reserves after Russia.