Iranian Oil Minister Rostam Qasemi says all phases of the giant South Pars gas field will come on stream by 2015, when all remaining projects will be commissioned.
Speaking at the inauguration ceremony of the refinery related to phases 15 and 16 of South Pars in Asalouyeh — located some 1,000 kilometers (621 miles) south of Tehran — on Wednesday, Qasemi said 17 phases of the field are currently being developed.
He added that Iran will extract as much natural gas as neighboring Qatar from the joint reservoir once the development of these phases is complete.
The minister stated that 80 percent of phases 17 and 18 of the South Pars gas field has been developed and they will be operational by the end of the current Iranian calendar year (ending March 20, 2014).
Qasemi further noted that phase 12 will start yielding 50 million cubic meters (mcm) of gas per day in winter.
The Iranian oil minister said the new South Pars gas field projects are expected to be completed in the course of 50 months, noting that this comes as foreign contractors had pledged to launch the projects in 60-86 months.
The South Pars gas field is located in the Persian Gulf on the common border between Iran and Qatar. It is estimated that the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensate.
By Press TV
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