TEHRAN, April 2 (Shana) � Managing director of the Pars Oil and Gas Company (POGC) said that total gas production as well as condensates output from the South Pars field which is shared with Qatar increased 15 percent last year (ended March 19).

�Gas condensates output grew from the joint gas field to 120 million barrels, increased 15 percent up from 104 mb in the preceding year,� Ali-Akbar Shabanpur told Shana.

�The 130 billion cubic meters of gas produced at the field was also stepped up for 15 percent from 113 bcm the year before,� he added.

Earlier, he said during a visit to the gas field�s offshore platforms on the occasion of the Iranian New Year (Nowruz) that in addition to South Pars phases 17 and 18, phases 19, 20, and 21 will be inaugurated this year.

Following the launch of phases 15 and 16 of South Pars gas field in January, Iran has dramatically shortened the distance with Qatar in utilizing its share from the joint field.

�Iran is producing 420 mcm daily from the field while Qatar is producing 650 mcm,� Shabanpur said adding that Qatar used to produce 2.5 times more that Iran before the recent development project was completed.

The CEO also said that phases 15 and 16 cost about 5.5 billion dollars and that the newly-launched phases will earn 2.6 billion dollars per year which in less than two years make up for the costs.

By SHANA