Iran to Increase Gas Production Capacity

Three phases of Iran’s South Pars gas field will come on stream in the current Iranian calendar year, which will boost the country’s natural gas production capacity by 150 million cubic meters per day, National Iranian Oil Company managing director Ahmad Qalehbani stated.

The current Iranian year started on March 21.

“The phases 12, 15, and 16 will be tapped in the current year,” ISNA quoted him as saying.

Once the three phases start production, the country’s gas output will increase significantly, he noted.

Iran is currently producing 300 million cubic meters per day of gas from the South Pars.

The managing director of Pars Oil and Gas Company Mousa Souri said in September 2012 that Iran can earn $8 billion in revenue from every phase of the South Pars gas field.

He noted that the gas field accounts for eight percent of the global gas reserves, adding that the development of every one of the 24 phases of the gas field can cause a one-percent growth in the national economy.

The country, which sits on the world’s second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing foreign and domestic investments, especially in the South Pars gas field.

The South Pars gas field 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, i.e. North Dome, are in Qatar’s territorial waters.

The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world’s reserves, and more than 18 billion barrels of LNG resources.

[mappress]
LNG World News Staff, April 08, 2013; Image: POGC