There is no funding constraint to developing phases 13 and 22-24 in South Pars Gas Field in the Persian Gulf, managing director of Pars Oil and Gas Company said.
"The Majlis has authorized the National Development Fund of Iran to lend $4 billion to wrap the entire project," Mohammad Meshkinfam was quoted as saying by IRNA.
Meshkinfam said almost $80 billion has been invested to develop 19 phases of the mega gas project and another $4 billion is needed for the remaining five phases that is being allocated gradually.
All 24 phases, minus Phase 11, will be up and running by 2020. The field has produced 1.3 trillion cubic meters of gas since 2002 when the first phase was launched.
Referring to the field's 267 wells and its output of 580 million cubic meters per day that accounts for 70% of the country's total demand, he said production has climbed by 103% compared to 2013 when there were 110 wells and extraction was 285 mcm per day.
The field, which straddles between Iran and Qatar, holds an estimated 39 trillion cubic meters of natural gas in place, of which 14 tcm is in Iranian territory and the rest in the tiny Arab emirate off the Persian Gulf.
South Pars output will rise by 84 mcm per day by March reaching 664 mcm per day. Qatar is taking 600 mcm from the shared field daily, he was quoted as saying.
The POGC chief noted that 21 platforms have been installed on the world's largest gas field and six more topsides will be added soon.
"South Pars gas condensate output stands at 600,000 bpd and there are no plans to cut this level," he said, noting that four storage facilities with total capacity of two million barrels of condensates came on stream last week.
Phase 13 Development
According to Shana, the last gas sweetening train in Phase 13 went on stream on Sunday to add 14.2 million cubic meters of fuel to the national gas grid per day. Three trains had already become operational.
Phase 13 refinery receives 20 mcm of sour gas from phases 6, 7 and 8 as part of production plan from the world’s largest gas field.
The first sulfur recycling unit of this phase went online on Monday with the aim of collecting hazardous gases before they are burnt and discharged into the environment.
The unit recycles 25 tons of acidic gases per hour, playing an important role in reducing hazardous air pollutants.
South Pars is shared between Iran and Qatar, covering 3,700 square kilometers of Iran's territorial waters. It joins Qatar’s North Field spreading over 6,000 square kilometers.
