Qasemi said on Sunday that 770 million cubic meters (bcm) of gas can be extracted from South Pars field after the completion of all of its phases.
“With this amount of gas extraction from the world’s biggest shared gas field, Iran’s gas production will equal that of Qatar’s,” Qasemi added.
“We currently have 27 discovered shared fields, 24 of which are either active or are being developed,” the Iranian oil minister added.
Iran, 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 its 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. the 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.
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.
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Iran’s Oil Minister Rostam Qasemi says Iran’s South Pars and other shared gas fields will generate an annual income of UDS 400 billion for the country after completion.
News ID 183464
