South Pars Production To Rise 100mn cm/day: Oil Min

Tehran, April 6, IRNA - Iranˈs oil minister says that the production capacity of the countryˈs giant South Pars gas field will increase by 100m cm/day in the current Iranian calendar year (started March 21, 2014). Bijan Namdar Zanganeh told Press TV on Sunday that the majority of the units related to the prioritized phases of South Pars, including phases 12, 15, 16, 17 and 18, will start production this year. Zanganeh emphasized that all the aforesaid units must start production before winter. South Pars gas field is shared with Qatar. The huge field covers an area of 9,700 sq kms, 3,700 sq km of which are in Iranˈs territorial waters in the Persian Gulf. The remaining 6,000 sq kms are in Qatarˈs territorial waters. The gas field contains 14 trillion cubic meters of natural gas, about eight percent of the worldˈs reserves, and over 18b barrels of LNG resources./end