Iran`s South Pars biggest phase to come on stream next year

TEHRAN,Jan.9(MNA)-- The largest phase of the South Pars gas field, phase 12, will start early production in the next Iranian calendar year (begins on March 20). The Phase 12 of the South Pars gas field is projected to have an output of 78 million cubic meters of sour gas, 110,000 barrels of condensates and 750 tons of sulfur on a daily basis. Some $7.746 billion of credit has been allocated to the development of phase 12, the National Iranian Oil Company’s (NIOC) managing director said in November 2011. The phase 12 (equivalent to three phases), and the phases 15, 16, 17, and 18 development plans have progressed by around 60 percent, the NIOC head Ahmad Qalebani told. Iranian Oil minister Rostam Qasemi has ordered all the contractors of the South Pars gas field development projects to work round the clock in three shifts to complete development of all phases, especially the phases 12, 15, 16, 17 and 18. Iran has attached the priority on boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia. Iran sits on the world's second largest natural gas reserves after Russia and is trying to grow its gas production by increasing foreign and domestic investments, especially in its South Pars gas field. The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.