Iranian South Pars biggest phase to come into operation next year

Iran Materials 8 January 2012 12:06 (UTC +04:00)

Azerbaijan, Baku, Jan. 8 / Trend F.Milad/

The biggest phase of the South Pars gas field, Phase 12, will start early production in the next Iranian calendar year (begins on March 20), IRNA news agency reported.

The Phase 12 of the South Pars gas field is forecasted to have an output of 78 million cubic meters of sour gas, 110,000 barrels of condensate and 750 tons of sulfur per day.

Loan worth $7.746 billion has been allocated for the development of Phase 12, the National Iranian Oil Company's (NIOC) managing director said in November 2011.

Phase 12 and the phases 15, 16, 17, and 18 have progressed by around 60 percent, the NIOC head Ahmad Qalebani told Mehr news agency.

Iran's Oil minister Rostam Qasemi has ordered all the contractors of the South Pars gas field development project to work round the clock in three shifts to complete development of all phases, especially the phases 12, 15, 16, 17 and 18.

Iran focuses on boosting gas production capacity of its joint oilfields with Qatar and Saudi Arabia.

Iran ranks second in the world for its natural gas reserves after Russia and is trying to increase its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

The South Pars gas 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 per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources