President Rouhani to open major gas project in South Pars

A view of Iran's South Pars Gas and Oil Field

A view of Iran’s South Pars Gas and Oil Field

Tehran, March 15, IRNA – President Hassan Rouhani is to inaugurate the biggest phase of South Pars project in the Persian Gulf province of Bushehr in coming days.

Phase 12 is the biggest in the gigantic gas project which is totally developed by Iranian experts in absence of any foreign assistance.

About 7 billion dollars of investment has been spent on the project so far.

Economic experts are optimistic about the future of the project as they believe that it will add to the country’s Gross Domestic Production (GDP) rate by 2 percent once fully implemented.

Gas industries experts see the achievements of Iranian engineers in launching 6 refineries in the phase 12 in just one year as unprecedented.

They say this indicates the high capability and potential of Iranian experts who were able to overcome obstacles in launching the project despite sanctions.

The phase will earn the country about 6 billion dollars a year only by its gas production, not to mention export of gas condensates.

Phase 12 of South Pars gasfield lies in south of the country close to borders with Qatar.

Bushehr Province owns the largest gas field in the world, with several refineries and a great deal of petrochemical companies are operating in the region.