BAKU, Azerbaijan, Aug. 2
By Elnur Baghishov – Trend:
Iran needs $25-$30 billion to maintain extraction and prevent a decline in extraction from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar), Iranian Oil Minister Bijan Zanganeh said, Trend reports citing Shana News Agency.
He made the remark in an event dedicated to the launch of several facilities in Iran. Iranian President Hassan Rouhani also attended the event online.
According to the minister, the South Pars gas field is one of the most important national projects implemented by Iran in the last 100 years.
Zanganeh added that extraction from the South Pars gas field has increased 2.5 times over the past eight years, from 280 million cubic meters daily to 700 million cubic meters.
As reported, 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.
The phases of the South Pars gas field are located in an area of 3.7 km. Iran has extracted more than 1.8 trillion cubic meters of gas and 2.2 billion barrels of gas condensate worth $335 billion by the end of last Iranian year (March 20, 2021).
Yesterday on August 1, 2021, the facilities of the Ministry of Cooperatives, Labour, and Social Welfare of Iran, the Atomic Energy Organization of Iran (AEOI) and the Isfahan Municipality were put into operation in Iran.
A total of $2.85 billion, 57.7 trillion rials (about $1.37 billion) were spent on the launch of these facilities and 940 people were employed.