Iran to earn $10B annually from phase 12 of South Pars gas field
Baku, Azerbaijan, Jan. 14
By Fatih Karimov - Trend:
Iran will earn $10 billion annually from phase 12 of the South Pars gas field, Iran's IRNA news agency reported on Jan. 14.
Phase 12 is the biggest phase of the gas field with a projected output capacity of 85 million cubic meters per day.
According to statistics, each standard phase of the gas field will produce around 8 billion cubic meters of gas per year, valued at $2 billion.
Phase 12 of the South Pars gas field's output is three fold of a single phase.
Jamshid Sourani, the planning manager of phase 12's development plan, said in Nov. 2014 that the phase is projected to daily produce 120,000 barrels of gas condensates and 750 metric tons of sulfur.
Mohammad Javad Shams, the CEO of Petropars Ltd., which is tasked with developing Phase 12 of the South Pars gas field, said in May 2014 that Phase 12 is 95 percent complete.
South Pars, a non-associated gas field located offshore in the middle of the Persian Gulf, is Iran's largest gas field. South Pars is a portion of a larger gas structure that straddles the territorial water borders of Iran and Qatar. It is called the North field in Qatar.
South Pars reserves account for roughly 40% of Iran's total gas reserves, and the field is also estimated to hold 17 million barrels of condensate in place. Phase 12 is the South Pars' biggest phase in terms of volume of activities as well as investment and production levels.