South Pars Produces 54% of Gas

South Pars Produces 54% of GasSouth Pars Produces 54% of Gas

South Pars Gas Complex accounts for 54% of the country's total gas production and around 2.1 million barrels of oil equivalent daily, the complex's managing director said.

"What distinguished SPGC from other gas producing companies is its wide range of products," Massoud Hassani was quoted as saying by IRNA. "Besides natural gas, the complex produces propane, butane, ethane, sulfur and gas condensate."

According to the official, the complex produces more than 400 million cubic meters of gas per day and 500,000 barrels per day of gas condensates.

The giant offshore South Pars Gas Field produced 270 mcm/d of gas, 400,000 bpd of gas condensate, 8,000 tons of liquefied petroleum gas, 1,000 tons of sulfur and 5,200 tons of ethane in 2014, which generated $56 billion in revenues.

The figure will reach $167 billion by March 2018 when the number of refineries reaches 14.  

"SPGC’s contribution to Iran’s gas production is expected to reach 70% by March 2017," Hassani said earlier.

South Pars is the world's largest gas field shared between Iran and Qatar in the Persian Gulf.