Iran’s new oil minister to visit south Pars energy zone this week

TEHRAN (FNA)- Iran’s new Oil Minister Bijan Zanganeh plans to visit Assalouyeh, the onshore facilities of the South Pars Energy Zone, later this week in a move to check the latest developments in the South Pars gas field projects.

Zanganeh has announced development of the South Pars gas field as among the top priorities of his four-year tenure as Iran’s Oil Minister.

Zanganeh said earlier that the oil ministry will try to bring on stream the completed phases of the gas field due to the urgent need of the country to natural gas.

From the 24 phases of South Pars gas field, 10 phases are already operational and the remainder is under development.

According to Pars Oil and Gas Company (POGC), phases 15-16 as well as phase 12 will come online in the next two months, while phases 17-18 will be accomplished by the end of this Iranian calendar year (ending in March, 2014).

Eight phases including 13, 14, 19, 20, 21, 22, 23 and 24 with 50 to 60 percent physical progress are expected to be complete next year.

With nearly 40 trillion cubic meters of gas reserves, the South Pars gas field accounts for more than 21 percent of the total gas reserves of the world. Iran extracts 290 million cubic meters of gas per day from the gas field which it shares with Qatar in the Persian Gulf.

By Fars News Agency


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