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Iran lags 9 times behind neighbors in tapping joint oilfields

Oil&Gas Materials 29 January 2013 02:44
The total extraction volume of Iran's neighbors from the joint oil and gas fields is currently nine times more than Tehran's share, Majlis Research Center reported.
Iran lags 9 times behind neighbors in tapping joint oilfields

Azerbaijan, Baku, Jan.27/ Trend F.Milad‎‏/

The total extraction volume of Iran's neighbors from the joint oil and gas fields is currently nine times more than Tehran's share, Majlis Research Center reported.

Iranian Oil Minister Rostam Qasemi ‎said in June 2012 that Tehran has attached the priority on boosting gas production capacity from its ‎joint oilfields with Qatar and Saudi Arabia.‏

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 is currently carrying out 261 million dollars worth of oil and gas projects, Deputy Oil Minister Mohsen Khojaste-Mehr said last week.

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