Oil minister says int'l companies waiting for sanctions on Iran lifted
Tehran, Iran, Jan. 30
By Milad Fashtami - Trend:
Giant international oil and gas firms are waiting for the sanctions imposed on Iran to be lifted, Iranian Oil Minister Bijan Namdar Zanganeh said.
He further said that progress of the development plans of South Pars gas fields' phases are satisfactory, Iran's Mehr News Agency reported on Jan. 30.
"Phases 15 and 16 are nearly complete," he said, adding that phase 17 has started its early production.
"The government and Majlis (parliament) need to increase their support for South Pars gas field's development plan," Zanganeh added.
Phases 15 and 16 are projected to produce 56.6 million cubic meters of gas per day, and 1.05 million tons of liquid gas (propane and butane) and one million tons of ethane per year.
Zangneh said in November that some 44 billion cubic meters of gas will be added to the country's total output in the next Iranian calendar year (to start March 21).
The Managing Director of National Iranian Gas Company Hamidreza Araqi said in November 2014 that Iran gas output will be doubled in the next three years.
"The country's total gas production will reach 330 billion cubic meters in the Iranian calendar year of 1396 (to start on March 21, 2018)," he said.
Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves.