Iran will launch six phases of the South Pars Gas Field by June 2016, said the managing director of the National Iranian Oil Company (NIOC).
The on-shore section of the phases 17 and 18 are currently ready to operate at full capacity, said Rokneddin Javadi on Monday addressing the inauguration ceremony of the South Pars phases 15 and 16 located in Pars Special Economic Energy Zone which was attended by President Hassan Rouhani and Iranian Minister of Petroleum Bijan Zangeneh.
Once development of the phases’ off-shore section becomes complete, they will be launched in the year to mid-March 2017, he noted. In addition, phases 19, 20 and 21 will be ready to be launched by June 2016, Javadi said, adding, “In case we overcome the present financial crisis, the remaining South Pars phases will also become operational within two years.”
NIOC chief recalled that currently, South Pars phases produce 420 million cubic meters of natural gas per day. “Once all South Pars phases are fully launched, the gas field’s output will reach to a figure equal to 5.8 million barrels of oil. In case the present downward trend in crude prices continues, the field’s revenue might surpass that of oil exports,” he added.
(Picture: South Pars, Phase 12)