South Pars Development At Phase 12 Makes 87% Progress

Tehran, Dec 24, IRNA – South Pars development at phase 12 has shown 87 percent progress, Managing Director of Iran's Petropars Oil and Gas Company Mohammad-Javad Shams said on Sunday. Addressing a roundtable meeting on the Financing Mechanisms to neutralize the Sanctions, Shams said Petropars has already delivered phases I, VI, VII and VII of South Pars and is currently busy in execution of the phases 12 and 19. He said that phase 19 made 60 percent progress. He put the cost of developing a phase of South Pars gas field at about 2.5 billion dollars and each phase takes about three years to be operational. He said that South Pars gas field phase 12 is aimed at producing 75 million cubic meters a day to tap into the national gas pipeline plus feeding LNG units. "South Pars gas field phase 12 targets to produce 120,000 barrels of gas condensates and 750 tons of sulphur per day."/end