Managing-Director of Pars Oil and Gas Company (POGC) Mousa Souri said Sunday that Iran’s gas recovery from South Pars would equal Qatar’s after five new phases of the giant field come on stream.
He added that the development of phases 12, 15, 16, 17 and 18 of South Pars would add nearly 200 million cubic meters per day (mcmpd) of sour gas to the shared field’s output on the Iranian side.
Iran is currently producing 300 mcmpd of gas from South Pars.
Souri said seven new offshore rigs are to start operation in South Pars before the end of the current Persian calendar year (ends March 20, 2013).
Iran’s Oil Minister Rostam Qasemi recently announced that 775 mcmpd of gas could be recovered from South Pars after underway projects come on stream.
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.
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