TEHRAN Oct 17 (Shana)--Development of the giant offshore South Pars gas field is to pick up speed in the current calendar year to March 2015, a deputy petroleum minister said.Rokneddin Javadi, who is also managing-director of National Iranian Oil Company, said the onshore section of Phases 12, 17&18 of South Pars needs to undergo development as soon as possible for timely gas recovery.
Javadi made the remarks as he toured different development phases of South Pars field which Iran shares with Qatar in the Persian Gulf waters.
South Pars covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Irans territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatars territorial waters.
The gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the worlds reserves, and approximately 18 billion barrels of condensate.
By SHANA
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