Azerbaijan, Baku, May 05/ Trend F.Milad/
The first phase of developing the phase 12 of Iran's South Pars gas field will come on stream in the current calendar year, which began on March 20, aiming to produce 25 million cubic meters (mcm) of natural gas, development manager of the phase 12 Rasoul Fallahnejad stated.
Rasoul Fallahnejad told the Shana News Agency that some $8 billion has been allocated to the development of the phase 12, of which $5.5 billion has so far been invested.
The development plan has been progressed by 71 percent. The phase 12 is the South Pars largest phase. It is aimed to produce 84 mcm of natural gas. It meets 15 percent of the country's need to natural gas. The phase 12 annual output is valued at around $1 billion.
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 percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.