South Pars’ Phases 22-24 steadily progress
Azerbaijan, Baku, Dec. 20 / Trend F.Milad/
The development of Iran's South Pars gas field phases 22-24 is around 40 percent complete, the project manager announced.
Farhad Izadjou told the ILNA news agency that the onshore section of the project has so far progressed by 48 percent.
Five billion dollars in bonds will be issued in the current Iranian calendar year to speed up the implementation of South Pars gas field projects, according to the Shana news agency.
Iran has attached the priority on boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia, Oil Minster Rostam Qasemi said, the IRNA news agency reported.
Iran sits on the world's second largest natural gas reserves after Russia and is trying to grow its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.
The field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.