SP Phase 16 Operational

SP Phase 16 OperationalSP Phase 16 Operational

South Pars' Phase 16 gas field came on stream Tuesday, with gas extraction of the Phase 15 platform due to commence early next week, director of both phases said to IRIB.

"The development of phases 15 and 16 is now 95 percent complete," Reza Forouzesh said.

Upon the completion of the two phases, close to 40 million cubic meters (mcm) of sweet gas will be pumped into the national pipeline before the end of winter. Of that amount, 20 mcm will be supplied from the South Pars offshore platforms and the rest from phases 6, 7 and 8 onshore. Three refining units are already operational in phases 15 and 16, with a fourth unit planned to start operations in the onshore part next week. Close to $5 billion has been invested in phases 15 and 16. With estimated $20 million revenue per day, the initial investment returns should end within 18 months.

South Pars/North Dome is the world's largest gas field, shared between Iran and Qatar, covering an area of 3,700km of Iran's territorial waters in the Persian Gulf. It adjoins Qatar’s field, which measures 6,000 square kilometers.