Iran gets $3B of revenue from South Pars gas field phase 19

Business Materials 18 September 2017 15:47 (UTC +04:00)

Baku, Azerbaijan, Sept. 18

By Fatih Karimov– Trend:

Iran has produced $3 billion worth of gas and gas condensates from South Pars Phase 19, since it was inaugurated April 16, according to the Iranian oil ministry.

So far, 13.54 million barrels of gas condensates have been produced and exported from the Phase 19 (April 16-Sept. 6), the report said.

Phase 19 of South Pars gas field has also injected 11 billion cubic meters of gas into the national gas grid so far.

Phase 19 development of South Pars is set to produce 56 million cubic meters per day (mcm/d) of gas, 80,000 b/d of gas condensate, 400 tons a day of sulfur, 1.05 million tons a year of liquefied petroleum gas and one million tons a year of ethane.

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.

South Pars, located in southern region, is divided into 24 development phases, and contains 40 trillion cubic meters of natural gas.

It covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are in Qatar's territorial waters.