Iran: South Pars Gas Production May Reach 800 Million Cubic Meters Per Day

Iran’s GDP will rise by one percent by launching each of remaining phases of the South Pars gas field, managing director of the Pars Oil and Gas Company (POGC), Mousa Souri announced here.

He went on to say that by launching the remaining 14 phases of the giant gas field, total gas production of the field will climb to 800 million cubic meters of gas per day, Iran’s SHANA news agency reported.

He estimated the value of the ongoing upstream projects of the South Pars gas field $52 billion adding this huge amount of executive operations not only improves macro indexes of the economy but also in micro level leads to job creation, capacity building in downstream industriesand gas export to world markets.

“Achieving the goal requires national support especially by the parliament to realize the target on time“, he noted.

It’s worth mentioning that recent months operations show that achieving the target over the 35 months timetable is not far from reach.

He said that fortunately desirable operations of the local manufacturers and contractors had helped to restricting the impact of the sanctions and had led to going ahead with the process of construction and development.

Hamid Reza Katozian, head of the Energy Commission of the Parliament said that development of the South Pars projects is the top priority of the Energy Commission that pays special attention to achieving the country’s goals at the South Pars gas field.

‘Allocating more than eight percent of the oil revenues to South Pars gas field development in Fifth Five Year Development Plan imply paying special attention to national goals in this area, the chairman oft he Energy Commission concluded.

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Source: NIGC, May 18, 2011;