South Pars gas production to rise

Bushehr, Hormuzgan prov, July 22, IRNA – Iran’s South Pars energy hub is to rise its gas production soon, according to an official.

The official in charge of phase 12 of South Pars gas field in south of the country Rasoul Fallahnejad said the production ceiling of the phase will rise 60 million cubic meters a day by the end of the first half of the Iranian year (started March 21, 2015) by drilling new wells.

He said the present production of the phase, without taking into account the gas amount it receives from phases 6-8, stands at 50 million cubic meters a day.

South Pars, divided into 29 development phases, holds 40 tcm of natural gas, or 21% of world’s total gas reserves, and 50 billion barrels of condensate.

South Pars covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters.

The gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.