Iran earns $5b from each South Pars phase: Official

SHANA – Iran generates 5 million dollars from each phase of the supergiant South Pars Gas Field on a daily basis, an official said.

Gholamreza Manouchehri, deputy for development and engineering at the National Iranian Oil Company (NIOC), said plans are under way for bringing all phases of the massive gas field on-stream by late-March 2019, end of the next Iranian calendar year.

He further said provided that no liquid fuel is consumed in the country’s power plants, the revenues would surge up to over 10 million dollars/day on average.

“The country (Iran) would incur over 40 million dollars in losses for every day of delay in inauguration of phases 13, 22-24 of the field,” he added.

The official also called for lending impetus to completion of the remaining phase development projects of the field.

Iran shares South Pars with Qatar in Persian Gulf waters.

Phase 13 development project has so far made nearly 86% and phases 22-24 have made 85% so far, he added, saying the refineries of the two phases will come online this year to be fed by the gas recovered from phases 6 to 8 of the field.