Phase 12 ready to come online

managing-director of  National Iranian Oil Company (NIOC)

managing-director of National Iranian Oil Company (NIOC)

TEHRAN March 03(Shana)–A senior Iranian official has said that the main phase of the giant offshore South Pars gas field is ready to come on-stream.

“This phase (Phase 12) is not half-finished and is ready for inauguration,” Rokneddin Javadi, managing-director of National Iranian Oil Company, said.

He said that the onshore and offshore sections of Phase 12 are 100% completed.

South Pars holds 40% of Iran’s gas reserves. This reservoir, sprawling on 3,700 square kilometers, contains 14.2 tcm of gas and 19 billion barrels of gas condensate. The offshore reservoir can earn the Islamic Republic several trillion dollars in revenues.

This gas reservoir is instrumental in boosting Iran’s national, regional and international status. Despite all sanctions and financial restrictions, Iran has managed to add around 100 mcm/d to its gas output from South Pars. Consequently, Iran’s gross national product will grow remarkably and that would be a big achievement for Iran’s economy.

Phase 12 development of South Pars is supplying more than 50 mcm/d of gas. Inauguration of this phase will allow the extraction of 3 bcf/d of sour and sweet gas. Furthermore, 120,000 b/d of condensate (more than 34 million barrels a year) and 750 tons of granulated solid sulfur will be produced from this phase. Therefore, Iran’s gas condensate production will grow more than 22% and its gas production more than 16% year-on-year.