TEHRAN, Nov. 03 (Shana) — The world might be focused on the speed at which Iran can ramp up oil production once sanctions are lifted, but its natural gas that’s likely to steal the show, wrote the weekly World Gas Intelligence.
“… The country could be producing close to 520 billion cubic meters per year (50 billion cubic feet per day) in six years, zooming past Qatar, with which it shares the world’s second largest nonassociated gas reservoir — known as South Pars in Iran and North Field in Qatar,” it suggested.
“It could also be exporting LNG,” forecast the UK-based publication in its October 28 issue.
In October, Iranian officials reportedly told WGI in Tehran that plans are on track to add up to 5 Bcf/d of output from five new South Pars phases in the first quarter of 2016 that will help meet soaring domestic requirements from power plants, industries such as petrochemicals, and state National Iranian Oil Co. (NIOC) for enhanced oil recovery (EOR).
The gas will come from Phases 15-19, which the officials said are close to completion, WGI added. “Phases 15 and 16, being developed together, will add some 2 Bcf/d, as will Phases 17 and 18, also being developed jointly.”
Phase 19 is due to start up in February 2016 producing at full capacity of around 2 Bcf/d in around one year, the weekly reported quoting Iranian officials saying on the sidelines of the Iran Petroleum and Energy Club Congress and Exhibition in Tehran the Iranian capital.