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Update: $20b Energy Projects Come on Stream in Iran's Gas Capital

The projects include five production phases of South Pars Gas Field in the Persian Gulf.The projects include five production phases of South Pars Gas Field in the Persian Gulf.

President Hassan Rouhani inaugurated $20 billion worth of energy projects in the city of Asalouyeh in Bushehr Province, on Sunday.

The projects include five production phases of South Pars Gas Field in the Persian Gulf, four petrochemical plants as well as crude extraction from the oil layer of the giant gas field that is shared between Iran and Qatar, Shana, Oil Ministry’s official news service, reported.

According to reports, phases 17-21 of South Pars have gradually come into operation in the past few months and reached their full production capacity. Iran is also reportedly drawing 25,000 barrels per day of light crude from South Pars after years of development and investment.

Iran has developed the major South Pars field in 24 phases.

In fiscal 2016-17, gas production from South Pars increased to 520 mcm/d, up more than 150 mcm/d compared with the previous year. Iran's total gas output is at 885 mcm/d, according to Shana, the Oil Ministry news portal.

 

11:36 - Phases 17 and 18 of South Pars gas field come on stream: 

Phases 17 and 18 of the SP gas field in the Persian Gulf are slated to produce 50 mcm of natural gas and 80,000 barrels of gas condensate per day, as well as one million tons of ethane, more than one million tons of liquefied natural gas (LNG) and 400 tons of sulphur per annum.

12:40 - Phases 20 and 21 of the SP gas field start operation:

1:46 - President Rouhani officially inaugurated phases 17,18,19,20,21 of South Pars gas field. Rouhani also launched the first phase of crude extraction from the oil layer of the giant gas field.

18:17 - President Rouhani also launched four petrochmical plants in Asalouyeh including, Phase 2 of Kavian Petrochemical Complex with an annual production capacity of 1 million tons; Phase 2 of Morvarid Petrochemical Company with an annual output of 550,000 tons, in addition to Takhte Jamshid and Entekhab petrochemical complexes, each with an annual production capacity of 250,000 tons.

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