Publishe Date: 1:02 PM - 11/5/2012 | Print

South Pars gas production to reach 1.4 bcm: Iran oil minister

Economy - Iran’s Oil Minister Rostam Qasemi says the country's natural gas production from South Pars gas field will hit 1.4 billion cubic meters (bcm) per day by March 2016.

Addressing the inaugural ceremony of the 8th Iran Plast International Exhibition on Sunday, Qasemi noted that the current output of the gas field, which is located in Asaluyeh in the southern Iranian province of Bushehr, stood at 600 million cubic meters (mcm) per day.

The minister added that the field is also producing 400,000 barrels of gas condensate per day, which is expected to exceed one million barrels a day in coming years.

Last Month, Managing director of Pars Oil and Gas Company (POGC) Mousa Souri announced that 10 out of 24 phases of the huge gas field have become operational since 2002, with each phase yielding 25 mcm of natural gas, 40,000 barrels of condensate, 200 tons of sulfur and one million tons of liquefied gas per day.

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.
press tv/281

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