BAKU, Azerbaijan, July 12
By Elnur Baghishov – Trend:
Iran earns tens of billions of dollars per year from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar), Trend reports citing Pars Oil and Gas Company (POGC).
According to the report, Iran extracted $40 billion worth of rich gas and gas condensate from this field over the last Iranian year (from March 20, 2020 through March 20, 2021).
So, Iran extracted 223 billion cubic meters of rich gas and 164 million barrels of gas condensate from the South Pars gas field in the last Iranian year, the report said.
“Currently, gas and gas condensate are extracted from 36 platforms in the South Pars gas field. With the exception of 11th phase, extraction continues from 27 phases of the field. The wells in the 11th phase of the field are under drilling and will be improved in the coming years,” the report said.
According to the report, the gas and gas condensate extracted from the field are refined at the South Pars Gas Company (SPGC). A number of heavy hydrocarbons, including 12 million tons of ethane, 6 million tons of propane, and 6 million tons of butane, are produced annually from the refined gas and gas condensate.
The South Pars gas field (called North Dome in Qatar) 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's share in the field is 14 trillion cubic meters of gas and 18 billion barrels of gas condensate. Iran has so far spent $90 billion on projects of the South Pars gas field.