Iran to inaugurate South Pars phases 15, 16 in 3 months

Business Materials 22 September 2014 17:42 (UTC +04:00)

Baku, Azerbaijan, Sept.22

By Fatih Karimov - Trend:

Iran will inaugurate the South Pars gas field phases 15, 16 in 3 months.

Ali-Akbar Sha'banpour, managing director of Pars Oil and Gas Company (POGC), said drilling operations have been completed in phases 15, 16 of the gas field, Iran's Shana news agency reported on September 22.

Development of South Pars gas field phases 15&16 aims at producing 56.6 million cubic meters of gas per day, 75,000 barrels of condensate per day, and 400 tons/day of sulfur, POGC said.

The two phases also will yield 1.05 million metric tons of LPG per day, propane, and butane as well as 1 million metric tons of ethane per day, mainly for use as petrochemical plant feedstock.

The South Pars field has 14 trillion cubic meters of natural gas -or about eight percent of the world's reserves- and more than 18 billion barrels of liquefied natural gas resources.

The field is part of a wider gas field that Iran shares with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Gulf.