Iran to inaugurate 7 phases of South Pars gas field in 3 years

Baku, Azerbaijan, May 6

By Fatih Karimov - Trend:

Iran will inaugurate seven phases of its South Pars gas field in three years.

Addressing the opening ceremony of the 19th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran, Iranian Oil Minister Bijan Namdar Zanganeh said that the country plans to boost crude oil production from onshore fields by one million barrels per day in the next few months.

The development of seventeen unfinished phases of the gas field should be completed as soon as possible, the minister said.

He also noted that construction of eight small refineries, each with 60,000 barrels capacity, has been started.

Managing Director of the South Pars Gas Complex, Masoud Hasani, said on Feb. 7 that 202 million cubic meters of gas per day is being pumped from the gas field to Iran's National gas network, Iran's Fars News Agency reported.

"South Pars is one of the most important areas in the country's oil and gas sector," Hasani said.

"The field's total production currently stands at over 280 million cubic meters from which 202 million cubic meters is being pumped to the national gas network," he explained.

Deputy Director of Iranian Offshore Engineering Construction Company Amir Saeed Najafi said on October 27, 2013, that the income from each standard phase of South Pars gas field will reach $8.5 billion.

"By inauguration of each phase Iran earns $11.5 million each day," the IRNA News Agency quoted Najafi as saying.

He went on to note that Iran needs to invest $400 million to complete Phases 12, 15, 16, 17 and 18.

Javadi said on October 23, 2013 that once the remaining 14 phases of the South Pars gas field come on stream, Iran's oil revenues would be raised by $100 million per day.

"So time is a crucial issue in the development of the remaining phases of the giant gas field," the IRNA News Agency quoted Javadi as saying.

"Iran needs to invest $20 to 25 million in the project, so if we want all the phases to come on stream in the next 24 months, one million dollars should be invested in the development project each month," he explained.

"Each phase's revenue is equal to $2.5 billion annually," Javadi added.

Moscow registers 69 coronavirus-related deaths in past 24 hours
Moscow registers 69 coronavirus-related deaths in past 24 hours
Two gunmen killed in counterterrorism operation in Ingushetia
Two gunmen killed in counterterrorism operation in Ingushetia
Russia’s Asian-Pacific Bank to supply its silver bullion to Kazakhstan
Russia’s Asian-Pacific Bank to supply its silver bullion to Kazakhstan
Loading Bars
Latest
Trump calls for delay in Group of 7 meeting, seeks expansion
Los Angeles declares curfew after four days of protests
Trump calls Floyd death 'grave tragedy,' decries violent protests in Florida speech
National Guard troops sent to Atlanta; city invokes curfew
Crew Dragon in orbit after historic launch
Federal officer killed guarding courthouse near protest
COVID-19 cases in Israel surpass 17,000
WHO reports single-day increase in coronavirus cases by over 116,000
Moscow registers 69 coronavirus-related deaths in past 24 hours
Coronavirus cases surpass 6 mln globally
Spain's daily coronavirus death toll drops to a handful
Two gunmen killed in counterterrorism operation in Ingushetia
Azerbaijan increases import of cars from Turkey
Turkey's daily coronavirus cases remain below 1,000 with 26 new deaths
Italy records 111 new coronavirus deaths, 416 new cases
Azerbaijan discloses number of coronavirus tests
EU urges U.S. to reconsider decision to cut ties with WHO
Britain at a very dangerous moment in the pandemic, health official says
COVID-19 deaths in Netherlands rise by 20
Magnitude-5.4 earthquake rattles southern Philippines
Iranian minister announces number of renewable energy power plants under construction
Azerbaijan Micro-finance Association supports female entrepreneurs affected by COVID-19
2,355 new COVID-19 infections detected in Qatar, total 55,262
Iran's Aghajari Oil & Gas Production Company introduces LBV technology
Azerbaijan confirms 257 new COVID-19 cases
Iran eyes to review gas export contracts
Turkmenistan decreases import of ready-made clothing from Turkey
Iran's stock market grows with inflation
Turkey's export of steel to Uzbekistan down by over half
Iran gov't to transfer shares of 20 companies to Social Security Organization
Data on cargo transshipment through Turkish port of Aliaga disclosed
Kazakhstan reduces import of cars from Turkey
Kazakhstan's import of Turkish defense products heavily down
Japan supports sustainable development of Uzbekistan
Russia’s Asian-Pacific Bank to supply its silver bullion to Kazakhstan
Volume of wheat purchased in Iran's Fars province increases
Cargo deliveries from Georgia to Turkey climb
Kazakhstan's oil extracting company opens tender for equipment overhaul
Revenue of Kazakhstan’s largest oil pipeline company plummets in 1Q2020
Turkish ministry discloses number of oil exploration wells drilled in 2019
Uzbek-Korean JV opens tender for procurement of MTR for pumps
Georgia reports 11 new coronavirus cases
Plane of Kazakhstan's private airline bursts into fire
Kazakhstan's KazTransOil to allocate entire income to pay dividends
Iranian Offshore Oil Company repairs floating processing terminal
Iran's export transportation fees tripled
Iran to sell domestically produced cars via profit-sharing scheme, lottery
Yandex registers as taxpayer in Uzbekistan
Largest in CIS solar plant commissioned in Kazakhstan's Akmola
Georgia ranks third in gas prices
Iran investing heavily in expanding national internet network
Kazakhstan adopts law on imported goods traceability mechanism
Kazakhstan’s uranium fields exploring venture to buy filters via tender
Iran cuts import of electrical goods from Turkey
Azerbaijan Mikro-Kredit NBCO's assets marginally up
Iran spends less foreign currency on car manufacturing
Iran discloses COVID-19 statistics for May 30
Azerbaijan's NBCO faces heavy drop in profit in 2019
Governor of Central Bank of Iran promises to gradually get rid of chronic inflation
Azerbaijan may introduce COVID-19 passport after resuming flights
Rouhani: It is not possible to return to pre-coronavirus conditions soon
Value of foreign trade via customs of Iran's Mazandaran Province increases
Leading Azerbaijani bank reduces payment card fees during COVID-19 pandemic
Azerbaijani oil grows in price
Azerbaijan's Azeltech eyes testing new drones
USAID interested in expanding co-op with Uzbekistan
Cargo transportation from Turkmenistan to Turkey slips
FINСA Azerbaijan NBCO's total assets triple
Turkish ministry bans engineering company from participating in ETI MADEN I.G.M.'s tenders
Iran's Esfahan Oil Refining Company announces savings due to import substitution
First Free Economic Zone of Uzbekistan talks its achievements
Georgian National Bank reveals official exchange rate of lari in April
Iran's Khodro cancels prepayment for its lottery sales
Sales value of National Iranian Copper Industry Company increases
Volume of cargo transshipment from Germany via Turkish ports revealed
Uzbekistan reports rise in coronavirus cases
Share of population under absolute poverty line slightly decreases in Georgia
Armenia violates ceasefire with Azerbaijan 29 times
Iran Energy Exchange announces products to be on sale May 30
Georgia's import of electrical goods from Turkey shrinks
Uzbekistan to construct BMX track
Turkey announces volume of cargo transshipped via its ports from Italy
Iranian airlines to receive coronavirus-related relief loan in June
Cargo transshipment volumes from Belgium via Turkish ports disclosed
Iranian currency rates for May 30
Armenian architect admits: Previously, Armenians didn't live in Yerevan (VIDEO)
Uzbek holding to assemble agricultural machinery in Kazakhstan
Gazprom says price of natural gas for Georgia to remain unchanged
FAO designs projects aimed at overcoming COVID-19 consequences in Azerbaijan
Minneapolis imposes mandatory curfew amid unrest
S. Africa reports record daily increase in COVID-19 cases
China reports four new coronavirus cases for May 29
Hundreds in New York protest over George Floyd's death
Brazilian Economy Ministry predicts greater GDP decline in second quarter
5.2-magnitude quake hits Whitianga of New Zealand
Number of COVID-2019 cases across globe up by over 107,000 in past day
Trump says terminating U.S. relationship with World Health Organization over virus
Brazil sets new record for daily COVID-19 infections
Singapore reports 611 COVID-19 cases
Turkey reports 1,182 COVID-19 cases over past 24 hours
All news