Iran’s South Pars output 20% higher as prices stay low
Baku, Azerbaijan, Feb. 25
By Khalid Kazimov - Trend:
At a time when Iran is suffering a severe decline in oil revenues due to low prices in international markets, the country's South Pars field output, mostly gas condensates and petrochemical products, has experienced a 20 percent increase, IRNA news agency reported Feb 25.
Pars Special Economic Energy Zone Customs Director General Khodadad Rahimi said that in the Iranian month of Bahman (Jan. 21 - Feb. 19), 808,851 metric tons of non-oil products worth $682.8 million were exported from the zone, demonstrating 43 percent increase in weight and 29 percent increase in value.
He added that in the same period, 33,881 metric tons of gas condensates worth $935.98 million were exported from the zone, with a 6 percent rise in weight and 10 percent rise in value compared to the same period the previous year.
Rahimi added that during that period, 1.843 million metric tons of heavy-end, light and heavy polyethylene, di-ethylene glycol, mono and tri ethylene glycol, urea, butane, propane, gas, p-Xylene, cement and methanol worth $1.619 billion were exported out of the customhouse, with 20 percent increase in weight and 17 percent increase in value compared to the previous year the same period.
South Pars products are headed for China, Japan, the United Arabic Emirates, India, Turkey , Iraq , Taiwan , Thailand , Malaysia , Vietnam , Afghanistan , Pakistan , Armenia , Russia , Mozambique, Egypt , Syria , Turkmenistan , Tajikistan , Ukraine , Qatar , Tanzania , Philippines , Ghana , Kenya , Azerbaijan , Georgia , South Korea and Mexico, he said.
South Pars, one of the world's largest gas reservoirs, covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran 's territorial waters in the Gulf. The remaining 6,000 square kilometers are situated in Qatar 's territorial waters.
The gas field is estimated to hold a significant amount of natural gas, accounting for about eight percent of the world's reserves, and approximately 18 billion barrels of condensate.
Edited by CN