Iran’s natural gas output hits about 70 billion cubic meters in 5 months

Iran has produced more than 69.9 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (started March 21, 2015).

Abdolhossein Samari, National Iranian Gas Company’s deputy managing director for operations, was quoted by the Iranian media as saying on Tuesday that the figure is up by five percent compared to the production figure for the corresponding period of the preceding year.

The official added that the country has also produced more than 1.17 million tonnes of liquefied petroleum gas (LPG) during the same period, up by about 102 percent compared to the same period last year.

Samari also stated that 625,000 metric tonnes of ethane gas was produced in the same months, showing an increase of 4 percent compared to last year’s corresponding figure.

Abdolhossein Samari, National Iranian Gas Company’s deputy managing director for operations ©SHANA

On September 12, a top advisor to Iran’s Oil Minister Bijan Zangeneh said Iran’s natural gas output is expected to increase by at least 50 million cubic meters per day (mcm/d) before April 2016.

Mahmoud Astaneh added that the output hike would push up the country’s collective gas production capacity to as high as 700 million cubic meters per day.

During recent years, Iran has been trying to boost its natural gas production through attraction of foreign investment in South Pars gas field, which is located in Persian Gulf off the coast of the southern Iranian province of Bushehr.

South Pars gas field, whose development plan has been divided into 29 phases, contains 40 trillion cubic meters of natural gas. The huge offshore field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf, and the remaining 6,000 square kilometers are situated in Qatar’s territorial waters.

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

By Press TV