Six Iranian South Pars gas field phases on stream by March 2013

Iran Materials 14 March 2012 12:14 (UTC +04:00)

Azerbaijan, Baku, Mar. 14/ Trend F.Milad/

Iran will inaugurate six phases of the South Pars gas field by the end of the next calendar year (March 2013), Mehr news agency quoted deputy oil minister Javad Owji as saying.

Once the phases come on stream, the gas field's output will be increased by 200 million cubic meters (mcm) per day to 500mcm, Owji added.

Previously the National Iranian Oil Company (NIOC) managing director said in December 2011 that seven phases of the South Pars gas field will certainly come on stream and start early production in the next calendar year.

Phase 12 (equivalent to three phases) and phases 15, 16, 17, and 18 development plans have progressed by around 60 per cent, NIOC head Ahmad Qalebani told the Mehr news agency.

Iran has attached a priority to boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia, Qasemi said, according to IRNA news agency.

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 world's total reserves and more than 18 billion barrels of liquefied natural gas resources.

Iran sits on the world's second largest natural gas reserves after Russia.