SP Gas Output to Match Qatar’s by Yearend

SP Gas Output to Match Qatar’s by Yearend
SP Gas Output to Match Qatar’s by Yearend

Iran plans to claim an equal share of gas production as Qatar’s from the shared gas field by the end of the current Iranian year (ending March 20, 2017).

“Five phases of South Pars, namely phases 17-21, are planned to go on stream by the yearend, which will be unprecedented in Iran’s gas industry taking place in 12 months,” Ali Akbar Shabanpour, managing director of Pars Oil and Gas Company, was quoted as saying by Shana.

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 adjoins Qatar’s North Field, which measures 6,000 square kilometers.

Shabanpour added that the success has resulted from the Oil Ministry’s policies for developing joint fields as soon as possible and said that following the removal of sanctions and the new trade climate, Iran should rapidly raise its oil and gas output, given the Persian Gulf country’s ambitious plans on the export of natural gas and related industries’ products.  

“To keep up with the neighboring countries, Iran should increase extraction of oil and gas from join fields,” the official said, stressing that the move is an example of applying the guidelines of Resistance Economy, which were proposed by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei on weaning the economy off oil revenues and focusing on domestic potentials.

Referring to the positive results of the sanctions’ removal, Shabanpour underlined that foreign companies are now more active in Iran as they have held negotiations with domestic companies for increasing bilateral cooperation.  

“The Oil Ministry and National Iranian Oil Company expect Pars Oil and Gas Company to fast-track the development of South Pars’s phases, which will definitely materialize if the officials remain committed to support and finance the projects,” he said.

"By fulfilling commitments, Iran’s gas production will witness a dramatic rise by the end of the year, equaling Qatar’s output from the huge joint field."

Shabanpour had earlier said Qatar’s gas production over the past three years averages 177 billion cubic meters per year, or more than 480 million cubic meters per day.