Oil and gas projects worth $261 billion underway in Iran

Azerbaijan, Baku, Jan.13/ Trend F.Milad

Iran is currently carrying out $261 million worth oil and gas projects, Deputy Oil Minister Mohsen Khojaste-Mehr said on Sunday.

Iran eyes to reach 8 per cent economic growth, Khojaste-Mehr said.

Iranian Oil Minster Rostam Qasemi said on December 30, 2012 that the country will increase its gas production capacity by more than two-folds in three years.

The country's daily gas output will reach 1.4 billion cubic meters in the next three years, he said.

By the end of the Fifth Five-Year Economic ‎Development Plan ‎‎(March ‎‎2016), Iran's oil production capacity would reach 5.6 million ‎barrels per day, he added.‏

The managing director of Pars Oil and Gas Company, Mousa souri, said last month that Iran has invested over $7 billion in the giant South Pars gas field in the first 9 months of current Iranian calendar year, which began March 20, 2012.

The oil ministry has used the money to equip different phases of South Pars, he said.

By the end of the current year (March 19, 2013) the amount would be raised up to $10 billion, he said.

South pars gas field's development plan has created over 100,000 direct and indirect job opportunities, the official explained.

According to Souri, 5 of the gas field's phases will come on stream by the end of the next Iranian calendar year (March 19, 2014), boosting the total output of South Pars by 180 million cubic meters per day.

Iran is currently producing 300 mcm per day of gas from South Pars.

Qasemi said in November that 775 million cubic meters (mcm) per day of gas could be extracted from South Pars after all its phases come on stream.

Iran has attached the priority on boosting gas production capacity from its ‎joint oilfields with Qatar and Saudi Arabia, Qasemi ‎said in June‏.‏

The country, which sits on the world's second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.

The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world's reserves, and more than 18 billion barrels of LNG resources.

Iran waits for Europeans to comply with the JCPOA - MFA
Iran waits for Europeans to comply with the JCPOA - MFA
Iranian President and Irish FM discuss JCPOA
Iranian President and Irish FM discuss JCPOA
No direct or indirect relations between Iran and US - Iranian Foreign Ministry
No direct or indirect relations between Iran and US - Iranian Foreign Ministry
Loading Bars
Latest
Power plant under construction in Iran’s Noshahr County
Kazakh-Chinese company opens tender to buy spares
China launches COVID-19 vaccination certificates for cross-border travel
United Arab Emirates attracts corporate billions to climb tax haven ranking
Turkey, Georgia eye simplification of operations for electricity import and export
Georgia reports 139 new cases of coronavirus for March 9
Azerbaijan discloses number of COVID-19 vaccinated persons in Naftalan city
Turkey raises export of chemicals to Azerbaijan
Iran prepares program to increase potential of cargo transportation via railway
First foreign trip in 15 months, PM Modi to visit Bangladesh on March 26
Turkish Energy Ministry prolongs Shell, Turcas Petrol's licenses for oil, gas exploration
Women deployed aboard Indian Navy warships after almost 25 years
44 companies given FDI approvals for joint production of defence items with foreign companies: Naik
Number of COVID-19 vaccinated people in Azerbaijan continues to grow
Georgia decreases imports of Turkish-made steel
Georgia opens air communication with Turkmenistan
Azerbaijan's export to France lowers in value terms from early 2021
Armenia decides to terminate powers of UNICEF representative in country
Iran's Economic Council approves several plans
Kazakhstan increases imports of UAE-made goods in 2020
Google to support 1 million women entrepreneurs in rural India
FMs of Turkey, Uzbekistan sign co-op program for 2022-2023
Navy, Army and IAF finally agree to procure armed drones from US in $3 bn deal
Turkey shares Jan. 2021 data on cargo movement via Botas port
Azerbaijan ranks first in Georgia’s electricity imports - analyst
Housing prices surge in Kazakhstan
Kazakhstan boosts trade with Afghanistan
Uzbekistan’s export of tomatoes significantly increases
Establish of joint industrial town with Azerbaijan - achievement of Iran's economic development
Kazakhstan's KazTransOil reports increase in net profit for 2020
Uzbekistan, Iran talk prospects for dev’t of trade, economic relations
Uzbekistan increases flights to Kazakhstan
Ceyhan terminal transships over 38 million tons of ACG oil since early 2021
SHELL & TURCAS PETROL A.S. reduces petroleum products’ sales in Turkey
Azerbaijani oil prices up
Azerbaijan IT company eyes co-op with banking sector
Gold price in Azerbaijan decreases
Turkmennebit opens tender for purchase of spare parts
Turkey releases 2M2021 data on cargo, passenger traffic at new Istanbul Airport
Kazakhstan's Air Astana opens tender to buy batteries
Pellet plant put into operation in Iran's Yazd Province
BP PETROLLERİ A.S. boosts jet fuel exports
Khazar Consortium opens tender for batteries purchase
Switzerland nearly doubles imports of Azerbaijani products
U.N. envoy in Doha to push on Afghan peace process
IsDB, IRTI, and ADB Co-host GVC Side-event at 52nd Session of UN Statistical Commission
Latvia eyes intensification mutually beneficial co-op with Uzbekistan
Iran's Bank Refah Kargaran unveils amount of issued loans
Azerbaijan shows footage from Fuzuli's Gorazilly village (VIDEO)
Consuls General of Azerbaijan and Turkey meet Pakistani American community leaders (PHOTO)
Uzbekistan reveals its COVID-19 data for March 9
Big investments made in Iran's industrial sector
Iranian currency rates for March 9
Azerbaijani currency rates for March 9
Iran to provide water for more villages in seven of its provinces
Iran's Securities and Exchange Organization calls to solve cryptocurrency issue
Oil prices rise on expected economic recovery, likely drawdown in oil stocks
Iran bans travels to some cities due to COVID-19
WHO supportive of electronic vaccination certificates — department chief
Italy's coronavirus deaths top grim milestone of 100,000
Estonia introduces strict one-month quarantine from March 11
EFSE sets to deepen engagement with Georgian financial institutions
Israel reports 3,130 new COVID-19 cases, 804,591 in total
WHO calls for strengthening women's leadership during COVID-19
Number of new COVID-19 cases in Spain continues to fall
PayPal buys Israeli cyber security company
France reports 359 new COVID-19 deaths, ICU admissions hit new high
EU to receive 100 mln vaccine doses per month from April: von der Leyen
Canada set to mourn COVID-19 victims, salute health workers on March 11
UK PM says higher risk of virus transmission "inevitable" as schools reopen in England
Finnish researchers develop nasal spray COVID-19 vaccine
Germany starts easing COVID-19 lockdown
Conversations ongoing on potential projects between Turkmenistan, UK
Exports to Iraq via Mehran crossing top $460m
Turkey passes 10 million mark in COVID-19 vaccinations
Georgian parliamentary committees to hear report on HPP construction
Official representative of Presidential Administration of Azerbaijan thanks Israel for medical assistance - Israel HaYom
UN chief urges countries to adopt special measures, quotas to advance women's equal participation
UK records another 4,712 coronavirus cases
Supreme Court rejects final Trump election challenge
India may start full operations at Chabahar port by May end
Iran profits from gas transmission development
Georgia 1st among best destinations for vaccinated travellers in 2021
Erdogan, Johnson discuss bilateral developments over phone
Electricity consumption in February amounted to 1.6 bln kWh in Kyrgyzstan
US coronavirus cases exceed 29 mln
Yellen says Biden COVID bill to fuel 'very strong' U.S. recovery
Iran's budget deficit decreases
Iran's Energy Exchange announces products to be on sale on March 9
Africa's confirmed COVID-19 cases pass 3.96 mln: Africa CDC
Syria's President Bashar al-Assad tests positive for Covid-19
Employment in Iran's industrial sector increases
Bulk of Jan.2021 loans to electric energy sector in Azerbaijan issued in foreign currency
Azerbaijan confirms 71 more COVID-19 recoveries
Loading-unloading of cargo in ports of Iran's Gilan Province expands
Iran's power consumption reduced by Omid plan
Iran to inaugurate more projects in free economic zones
Iran has developed steel supply chain - Iranian President
Iran's Securities and Exchanges Organization talks number of investors in capital market
Iran’s Bahar Azadi gold coin price rising
All news