Global Leader in International Oil and Gas Industry News

posted in:

Pars Oil & Gas Company announces Iran plans to increase gas production

Wednesday, Nov 28, 2012

Managing-Director of Pars Oil and Gas Company Mousa Souri announced that Iran will increase gas production in the giant South Pars gas field, adding that the country will surpass Qatar's gas production in the shared field.

Speaking on Sunday, Souri said Iran's gas recovery from South Pars would equal Qatar's after five new phases of the giant field come on stream.

He added that the development of phases 12, 15, 16, 17 and 18 of South Pars would add nearly 200 million cubic meters per day (mcmpd) of sour gas to the shared field's output on the Iranian side.

Iran is currently producing 300 mcmpd of gas from South Pars.

Earlier this month, an Iranian deputy oil minister said a sum of 80 billion dollars will be invested in the development and completion of South Pars gas field phases.

The South Pars gas field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. the North Dome, are in Qatar's territorial waters.

The South Pars gas field holds 8 percent of total gas reserves of the world and half of the country's proven gas reserves as well as is the host of the most important industrial complexes of the country and the most important part of oil industry's value chain.

Source: Pars Oil & Gas Company

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

Aquaterra Energy wins Premier Oil Catcher Drill Centre Template contract 23-04-2014
Claxton’s camera upgrade puts crane safety in the picture 23-04-2014
Elk acquires the Singleton Unit in Nebraska 23-04-2014
Longreach prepares to drill into target Liassic formation with Kamar-1 well in Morocco 23-04-2014
Chevron unveils PitPack motor oil dispensing system 23-04-2014
Farstad Shipping ASA - charter agreements 23-04-2014
Prysmian, € 30 m contract in Abu Dhabi 23-04-2014
Halliburton to build drilling, testing and training facility in Texas 23-04-2014
SEACON (europe) Ltd Receives A Queen’s Award for Enterprise in International Trade 23-04-2014
EnerJex Resources announces Niobrara operations update and development plans 23-04-2014