Iran to build 10 new refineries in South Pars

TEHRAN, Aug. 27 (MNA) – Iran’s oil minister has said Iran had projects underway in South Pars which would help the country to outpace Qatar in gas production from shared fields.

Bijan Namdar Zanganeh said new refineries for condensates would help stop export of condensates as raw material. “Currently, the most important project to increase oil and gas production are west Karoon and shared phases of South Pars fields with Qatar,” said the minister, adding that by next 3 years, “Iran will export 4.7 million barrels of crude oil per day with entering to operation of west Karoon oil field.”

“According to economic estimations in the ministry of oil, if 700,000 barrels of crude are added to production, along with rapid pace of developments in shared fields, it will bring the country $25bn in oil income,” Zanganeh said.

On the ministry’s projects underway to develop South Pars phases, Zanganeh said that a project of high priority had been defined for the Field’s development, “which would join five old phases including 12, 15, 16, 17 and 18 to the production grid by the next September.”

“We predict that 100 million cubic meters will be added to gas production with a number of sea platforms and other refinery units entering operation phase in the current year; phases 13, 14, 19, 20-22, and 24 are next priorities for development,” he asserted.

However, Zanganeh predicted that the ministry would finish the development of South Pars by the next 3 years. “A total of 17 phases would add 400 million cubic meters to Iran’s natural gas production in South Pars,” he said, “by 2017, Iran would outpace Qatar in daily gas production from South Pars shared fields,” he added.

He also pointed to related industries in upstream sections in oil and gas sector which would help accelerate the pace of development of South Pars. “Construction of pipelines, compression facilities and gas transmission networks are in the agenda to provide clean energy to consumers,” he added.

Zanganeh emphasized that the ministry would continue selling oil and gas as unprocessed material along with completing value-adding chains in petrochemical industries as long-term policy. “South Pars completion would provide food for petrochemical industries as ethane and condensate gas,” the minister said.

By Mehr News Agency

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