BAKU, Azerbaijan, Oct. 28
By Elnur Baghishov – Trend:
Iran’s gas extraction in this winter will reach 940 million cubic meters daily, new Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojastamehr said, Trend reports citing the company’s website.
The deputy minister noted that of this, 700 million cubic meters will be extracted from the South Pars gas field, which is about 70 percent of the total gas volume.
Khojastamehr added that all measures have been taken to supply gas fuel in the winter months, and if there is a shortage of consumption, liquid fuel will be used.
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).
Reportedly, Iran is to spend $25-$30 billion to maintain extraction from the South Pars gas field. Iran extracts daily 700 million cubic meters of gas from this field.
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