Tasnim – Iranian Oil Minister Bijan Namdar Zanganeh said the country’s extraction of gas from the South Pars gas field would reach 750 million cubic meters per day by the end of the current Iranian calendar year (March 2020).

Speaking to reporters on the sidelines of a cabinet session in Tehran on Wednesday, Zanganeh said that since the beginning of the current Iranian calendar year, the daily extraction of natural gas from the South Pars in southern Iran has increased and the upward trend will continue.

“That is because our other units are being stabilized and we will have more production from the sea,” the oil minister stated.

“Our daily output will reach 750 million cubic meters of gas by the end of the current (Iranian calendar) year,” he added.

According to a report published in March, Iran’s capacity for daily gas extraction from the joint gas field had reached 660 million cubic meters.

South Pars, whose development has been divided into 28 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar.

It covers an area of 9,700 square kilometers, of which 3,700 square kilometers belongs to Iran.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.