Iran’s revenues from South Pars phases 17,18 reach $2B
Baku, Azerbaijan, Oct. 18
By Fatih Karimov – Trend
Iran has produced $2 billion worth of products from the phases 17 and 18 of the South Pars gas field since it became operational in January 2015, Mohammad Meshkinfam, the managing director of Pars Oil and Gas Company (POGC), said.
Meshkinfam said that currently about 37 million cubic meters of gas per day (mcm/d) is produced from phases 17 and 18 of the field, Meshkinfam said, SHANA news agency reported Oct. 18.
He added that two main platforms of the phases launched in 2015 and the last two platforms, namely 17B and 18B will be inaugurated before March 2017.
Platform 18B was already installed and is expected to become operational by November 2016 with a output capacity of 14 million cubic meters, he said.
The last platform (17B) loaded at Bandar Abbas on Oct. 18 and will be installed in its location soon, Meshkinfam added.
He added that the two phases will reach its final production capacity which is 57 mcm/d in February 2017, once the all platforms of the phases become operational.
Meshkinfam further said that 1,400 tons of ethane is produced from phases 17 and 18 at the moment on a daily basis.
Phase 17 and 18 is set to produce 56.5 mcm/d of sour gas, 75,000 bpd of gas condensates, one million tons a year of liquefied gas, one million tons a year of ethane and 400 tons a day of sulfur.
Iran’s Industrial Development and Renovation Organization (IDRO), IOEC, National Iranian Offshore Engineering and Construction Company (NIOEC) and Iranian Marine Industrial Company are in charge of Phases 17 and 18.
Iranian side of South Pars, located in southern region, is divided into 24 development phases. The field contains 40 trillion cubic meters of natural gas, of which one third belongs to Iran and the remains to Qatar.
Currently, Iran produces 430 mcm/d of gas from this field and planned to increase this volume by 100 mcm/d by March 2017.