Zanganeh: Iran expanding its extraction from South Pars gas field

Oil&Gas Materials 7 September 2020 15:36 (UTC +04:00)
Zanganeh: Iran expanding its extraction from South Pars gas field

BAKU, Azerbaijan, September 7

By Elnur Baghishov – Trend:

Iran has increased extraction from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) 2.5 times over seven years (the current government came to power in August 2013), Iranian Oil Minister Bijan Zanganeh said, Trend reports referring to the IRINN.

He made the remark at an event dedicated to the supply of gas to a number of regions in the Kermanshah Province (western Iran).

The minister emphasized that Iran's gas extraction from this field was 280 million cubic meters per day seven years ago.

The minister added that however, at present, the extraction from this field is 700 million cubic meters per day. This is an increase of 420 cubic meters.

Zanganeh noted that if the South Pars gas field had not been developed, 10 refineries with a capacity of 260,000 barrels would have to be built to supply 2.6 million barrels of fuel. Thus, the environment of the whole country would be polluted.

"On the contrary, Iran currently uses cheap fuel, Iran is not an importer, and can export twice as much gas as seven years ago," he said.

According to Zanganeh, a record figure was recorded in Iran's gas exports in the summer of current Iranian year. Thus, daily exports exceeded 79 million cubic meters.

The city of Nowdeshah, 81 villages and 22 industrial enterprises in the Kermanshah Province (western Iran) were supplied with gas. A total of 550 billion rials ($13 million) was spent on these processes.

In addition the supplying of gas to 9 villages and 39 industrial enterprises has also begun. About 149 billion rials ($3.55 million) was spent on these processes.

The South Pars gas field is a joint gas field of Iran and Qatar. The proven reserves of the South Pars Gas Field are estimated at 51 trillion cubic meters of gas, of which 36 trillion are extractable. Iran has so far spent $33 billion on projects of the South Pars gas field. Around 75 percent of Iran's gas is supplied by this field.

Iran extracted 570 million cubic meters of gas per day from this field in the last Iranian year (from March 21, 2019 to March 20, 2020).