If the projected 700-800 mcm daily recovery of natural gas from South Pars is realized, the country would gain more than USD120 billion a year from selling gas and its products a year.
Covering an area of 3,700 square kilometers, South Pars gas field is located in the Persian Gulf straddling the common border between Iran and Qatar. The field's reserves are estimated at 14 trillion cubic meters of gas and 18 billion barrels of condensate.
South Pars makes nearly 50 percent of the country’s and 8 percent of the world’s gas reserves.
Iran, which sits on the world's second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.
Source: Pars Oil & Gas Company
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