Baku, Azerbaijan, Apr. 16
By Fatih Karimov – Trend:
Iran’s President Hassan Rouhani inaugurated phases 17 and 18 of the South Pars gas field in a ceremony on Apr. 16.
During the ceremony Rouhani was briefed about the development projects of the gas field, Iran’s state-run IRINN TV reported.
Iran invested $8.1 billion in the mentioned phases, which became semi-operational in 2014. The final annual capacity of these phases is 18.2 bcm of natural gas and 29 million barrels of gas condensate. It also pursues yearly production of one million tons of ethane and 1.02 tons of liquefied petroleum gas (LPG).
Two phases will bring about $5 billion revenues for the country on a yearly basis.
Rouhani will also officially inaugurate the phases 19, 20 and 21 of the gas field, as well as a development project of the South Pars gas field’s oil layer.
Senior Iranian officials, including Foreign Minister Mohammad Javad Zarif, Oil Minister Bijan Namdar Zanganeh, and Industry Minister Mohammad Reza Nematzadeh are accompanying Rouhani during the one-day visit to Assalouyeh in southern Iranian province of Bushehr.
Phases 17, 18, 19, 20, and 21 of South Pars gas field were mostly developed during the Rouhani administration.
Iran’s section of South Pars, jointly owned with Qatar, contains 14 trillion cubic meters of gas and 18 billion barrels of gas condensate.
Iran has divided the field into 24 phases. Currently, the field’s nominal production capacity stands at 500 mcm/d, but Iran plans to increase this volume to 800 mcm/d by 2021.