Publishe Date: 12:57 PM - 8/23/2014 | Print

Oil Minister: Iran to Increase Gas Condensates Output

Economy - Iranian Oil Minister Bijan Namdar Zanganeh underlined his ministry's determination to boost the country's gas condensates production through several projects in the Southern province of Bushehr.

“Gas condensate production will reach 1million barrel per day (mb/d) after inauguration of Phase 17 of South Pars (gas field) as well as Kangan, Tabnak and Parsian gas condensate (facilities),” the Iranian minister pointed out.

The minister said Iran’s oil and gas condensate production capacity will reach 5.7 mb/d in three years. He insisted that this objective could be realized.

He added that such a production capacity will boost Iran’s OPEC status.

The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. The field is estimated to contain 14 trillion cubic meters of gas and 18 billion barrels of condensates.

The field covers an area of 9,700 square kilometers, 3,700 square kilometers of which lie in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. North Dome, are located in Qatar's territorial waters.

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