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95 bcm of Gas Drawn From South Pars

95 bcm of Gas Drawn From South Pars95 bcm of Gas Drawn From South Pars

More than 95 billion cubic meters of gas were extracted from South Pars Gas Field in the past 10 months, Pars Oil and Gas Company announced on Tuesday.

Phases 1-5 of South Pars produced over 37 billion cubic meters of natural gas and close to 11 bcm were extracted only from Phase 12, the largest of South Pars phases in terms of scope of operation and investment, Shana reported.

Ali Akbar Shabanpour, managing director of POGC, predicted on Wednesday that South Pars output will rise to 130 bcm by the end of the current Iranian year (March 19, 2016).

After the launch of phases 12, 15 and 16 over the past year, phases 17 and 18, with an output of 50 million cubic meters per day of gas, are to be officially inaugurated in the next five months. The current gas production of the partly operational phases amounts to 30 mcm/d.

Phases 19-21 are in line for launch after phases 17 and 18. Offshore facilities of some of these phases have been already installed and all phases are expected to become operational by March 2017.  South Pars is the world’s largest gas field shared by Iran and Qatar, covering an area of 3,700 square kilometers of Iran’s territorial waters in the Persian Gulf. It holds an estimated 40 trillion cubic meters of natural gas, or roughly 8% of the world’s reserves and approximately 18 billion barrels of condensates. It adjoins Qatar’s North Field that measures 6,000 square kilometers.

The new phases of South Pars have also contributed to an increase in ethane, sulfur and gas condensate output.

Financialtribune.com