South Pars Completion Requires Investment of $7.5 Billion

Nearly $80 billion have been invested in the upstream sector of South Pars Gas Field in the Persian Gulf so far, but more is needed to complete the unfinished phases in the huge field, managing director of the National Iranian Oil Company said.
“The completion of Phase 11 as well as phases 13, 14 and 22-24 needs about $7.5 billion of investment in Asalouyeh region,” Mohsen Khojastehmehr was also quoted as saying by the Oil Ministry’s news agency Shana.
“The development of these phases has registered over 90% progress and is expected to be completed by the end of the current Iranian year [March 20, 2022].”
The official emphasized the use of the latest technologies to ensure maximum production in the upstream sector and maximum value added in the downstream sector.