Publishe Date: 5:00 PM - 8/27/2013 | Print

Iran to boost gas, oil output: Iranian oil minister

Economy - Iran’s Oil Minister Bijan Namdar Zanganeh says the top priority of his ministry is completing several phases of South Pars Oil and Gas Field and boosting the Islamic Republic’s daily oil output.

In a televised interview with the IRIB network on Monday night, Zanganeh said that accelerating natural gas production in phases 12, 15, 16, 17, 18 and 19 at the joint Iran-Qatar South Pars complex is a main priority of the Iranian Oil Ministry since their total production adds up to nearly 170 million cubic meters per day.

Zanganeh also stated that the gas from those phases would entirely compensate the country’s energy shortages.

The Iranian oil minister added that upon the commissioning of the aforementioned phases, 300,000 barrels of gas condensates, two million tons of liquefied gas (LPG), and two million tons of ethane will be added to Iran's daily production.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (referred to as South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.

According to Zanganeh, the Oil Ministry also plans to increase Iran's daily oil production in a span of seven months, and will have to be able to boost the country’s export capacity.

 

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