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

Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips 18-04-2014
Total discovers oil in deep offshore Ivory Coast 18-04-2014
McDermott Signs Agreement for North Sea Spoolbase 18-04-2014
Atlas Oil to Sell BP branded assets in Chicago and NW Indiana 18-04-2014
MetroGas forms powerful consortium to address Miami-Dade County energy needs 18-04-2014
TruStar Energy announces grand opening of city furniture CNG fueling station 18-04-2014
Gastar Exploration begins drilling new well in Utica Shale 17-04-2014
Osiris Projects nearing completion of the ambitious works on the subsea cabling project which will help deliver fast, fibre optic broadband to the H 17-04-2014
Corlena Oil Company II, LLC to sell horizontal Texas Panhandle properties 17-04-2014
Xylem’s Godwin pumps restore critical operations at flooded oil refinery in Argentina 17-04-2014