News ID: 240144
Published: 1213 GMT March 12, 2019

Iran to launch new development phases of South Pars Gas Field

Iran to launch new development phases of South Pars Gas Field

Iran is to launch four new phases at South Pars, the world’s largest gas field, with a production capacity of up to 110 million cubic meters per day, the Oil Ministry said on Twitter on Tuesday.

No additional information was provided regarding the date of inauguration of the four new phases, reported Reuters.

Oil Minister Bijan Namdar Zanganeh told state TV last month that Iran’s gas production at South Pars had hit 610 million cubic meters per day.

The offshore field is shared between Iran and Qatar, which calls it North Dome.

Iran’s daily gas production from the field now exceeds that of Qatar, Zanganeh said last month.

Shana quoted a project manager in South Pars phase 13 as saying on Tuesday that a gas refinery in the field was fully operational and ready to be inaugurated by President Hassan Rouhani.

“The refinery of the phase is fully operational... The first shipping of gas condensate from phase 13 was delivered on March 11 for exports,” Payam Motamed, operator of South Pars phase 13 project, said, adding the refinery has the capacity to process 56.6 million cubic meters of gas a day.

He said around $5 billion was invested for the development of the field’s phase 13 and that the total value of its daily products was $5 million.

Iran needs foreign investment to boost output from its oil and gas reserves because production has been crippled by years of US sanctions.

A manager in National Iranian Oil Company (NIOC) said on Tuesday that there are currently 200 undeveloped oil and gas fields in Iran.

“The recovery rate of Iranian fields is 10 percent lower than the average rate of recovery in the world,” Karim Zobeidi, the NIOC’s deputy director for planning was quoted as saying by Shana.

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