TEHRAN, Feb. 16 (MNA) – The Phase 12 in south eastern block of South Pars Gas Field, on border line with Qatar will be officially inaugurated in early March by President Rouhani.
The main objective of this project is to increase the daily production of sweet gas up to 75 million cubic meter, 120,000 barrels of gas condensate, as well as 750 ton granulated sulfur.
According to officials, presently all 6 rows of gas sweetening unit in Phase 12 with the daily refining capacity of 75 to 80 million cubic meters of sour gas have been fully operational.
The economic estimates show with a full exploitation of Phase 12 project and considering each barrel of oil at 60$, the economy of Iran will enjoy an approximately $17.5 million of foreign exchange earnings per day. This income can be increased up to 6 billion dollars in a year.
Officials of the National Iranian Oil Company have also announced in a report that so far seven shipments of gas condensate from South Pars Phase 12 have been exported to the global markets.
The South Pars field is a natural gas condensate field located in the Persian Gulf. It is the world’s largest gas field, shared between Iran and Qatar. According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensates.