SP Output to Rise by 100 mcm/d

SP Output  to Rise by  100 mcm/dSP Output  to Rise by  100 mcm/d

Extraction from South Pars Gas Field in the Persian Gulf will rise by 100 million cubic meters per day upon the completion of the field's phases 17-21. Ali Akbar Shabanpour, the managing director of Pars Oil And Gas Company, made the statement on Sunday without specifying a timeframe, Shana reported. The official added that Iran drew a total of 130 billion cubic meters of gas from South Pars in the last Iranian year (ended March 19, 2016). Phases 19-21 will be launched 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 spans over 6,000 square kilometers.