Iran: South Pars Annual Revenue to Reach USD 110 Billion

By launching all the South Pars gas field phases, Iran’s yearly revenue from the field will rise to $110 billion, Iran’s Petroleum Minister, Dr. Mirkazemi announced here.

It’s worth mentioning that, every phase of the South Pars will produce 25 million cubic meters of natural gas and some 40 thousands barrels of gas condensates per day, Iran’s SHANA news agency reported.

By stating that $60 billion investment would be allocated in upstream sector of Assaluyeh and South Pars in the Fifth Five Year economic development plan, he said that development of upstream and downstream industries is essential simultaneously in the region.

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Source: NIGC, March 8, 2011;