News / Energy

Gas production from South Pars gas field to increase 7 tcf/d by year-end

Friday, 08 May 2015 8:55 AM [ Last Update: Friday, 08 May 2015 8:55 AM ]

This photo shows a general view of Phase 12 of South Pars gas field. ©SHANA

A senior Iranian gas industry official says production of natural gas from South Pars gas field will increase by 7 trillion cubic feet per day (tcf/d) before the end of the current Iranian calendar year (ends March 20, 2016).

Speaking to reporters on the sidelines of the 20th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran on Friday, Managing Director of Pars Oil and Gas Company (POGC) Ali Akbar Sha’banpour noted that when the 12th phase of the field becomes fully operational this year, it will produce 2.5 tcf/d of natural gas.

“Also, when phases 15 and 16 come on-stream, they will be producing 2 tcf/d of natural gas,” he was quoted by IRNA as saying.

The official further noted that after full commissioning, phases 12, 15 and 16 of South Pars gas field along with some parts of phases 17 and 18 will produce about 6 tcf/d of natural gas.

He said parts of Phase 19 will be also made operational to produce 1 tcf/d of natural gas.

This file photo shows a partially-constructed gas refinery at the South Pars gas field on the northern coast of Persian Gulf in Asalouyeh, Bushehr province, Iran. ©AP

“On the whole, when these phases come on-stream by the end of the year, the field’s overall natural gas output will increase by 7 tcf/d,” he added.

Sha’banpour stated that the main priority of POGC during the current year is to boost production from phases 12, 15, 16, 17, and 18 of South Pars gas field.

During past years, Iran, which sits on the world’s largest gas reserves, has been making efforts to increase gas production by attracting foreign and domestic investment to South Pars gas field.

The huge offshore 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 are situated in Qatar’s territorial waters.

This photo shows installations at Phase 12 of South Pars gas field. ©SHANA

The field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

On March 17, Iran officially launched Phase 12 of the field, in which over USD 7 billion had been invested, in the presence of Iranian President Hassan Rouhani.

Phase 12 of South Pars is expected to earn the Islamic Republic USD 6 billion a year in revenues.

On April 27, Reza Forouzesh, official in charge of the development of South Pars phases 15 and 16, announced that the two phases will come on-stream in June, two months ahead of schedule.

The two phases are expected to produce 50 million cubic meters per day (mcm/d) of natural gas, 80,000 barrels per day (b/d) of gas condensate, 400 tons a day of sulfur as well as 1 million tons a year of liquefied natural gas (LPG) and 1 million tons of ethane.

SS/SS

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk