Tag Archives | gas production

South Pars Gas Output to Hit 750 mcm by Late 2019

Iranian Minister of Petroleum Bijan Zangeneh said the country’s gas production capacity from the supergiant South Pars gas field would cross 750 million cubic meters per day by late 2019. Addressing a ceremony to officially launch phases 13 and 22-24 of the major joint gas field, that was held in the presence of the Iranian […]

Iran Launches New Phases of South Pars Gas Field

Iran’s president inaugurated four new phases of the large South Pars gas field in the southern province of Bushehr on Sunday. Accompanied by the minister of oil and other top officials, President Hassan Rouhani inaugurated the phases 13, 22, 23 and 24 of the South Pars gas field. Each of the new phases has a […]

Iran Launches Hengam Gas Processing Complex

Iranian President Hassan Rouhani has officially inaugurated the gas processing complex at the Hengam Joint Oilfield. The plant can process 80 mcm/day of natural gas which was previously flared. Iranian contractors, manufacturers and advisors developed the complex whose return on investment will be less than a year. The project generates $700,000 per day of revenues […]

Increasing Production from Joint Fields, Iran’s Priority

Iranian Oil Minister Bijan Zanganeh made assurances that his ministry is determined to increase oil and gas production from joint fields with neighboring countries. Speaking to reporters in Tehran on Sunday, Zanganeh pointed to the country’s gas production in the South Pars gas field and said during the Iranian month of Dey last year (December […]

Gazprom interested in Developing 4 Iran Gas Fields

Iranian Minister of Petroleum Bijan Zangeneh says Russia’s gas major, Gazprom, is interested in developing four gas fields in Iran. Speaking in a televised interview on Saturday night, the official said: “Iran has signed memoranda of understanding (MoUs) with Gazprom for carrying out studies on development projects of Farzad A, Farzad B, North Pars and […]

Iran World’s Third Largest Natural Gas Producer

Iran has been named the worlds third largest natural gas producer in 2016, according to the International Energy Agency (IEA). The IEA in its report said Iran had produced 190 billion cubic meters (bcm) of gas last year which it said was 5.3 percent of world’s total. The agency in its report said the US […]

Iran faces Challenges Realizing Natural Gas Potential

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. With 33.5 trillion cubic meters of natural gas, Iran has the largest conventional gas reserves in the world. Along with its vast oil reserves, it also has sizable, non-associated conventional gas resources that are being […]

SZOGPC Revenues hit $9bn Last Year

The South Zagros Oil and Gas Production Company (SZOGPC) produced 9 billion dollars worth of crude oil and natural gas in the previous Iranian calendar year which ended on March 20, the company’s CEO said. Gholamhossein Montazeri said the company produced 62 mcm of natural gas, 20 million barrels of gas condensate and 2.2 million […]

Iran Launches 5 Gas Pressure Stations

Iran launched five gas pressure station facilities on Thursday in order to boost its gas delivery capacity by 50 million cubic meters. The facilities are located in Khonj, Jahrom, Safa Shahr, Naein and Kashan. Each of the facilities are equipped with 4 25-megawatt turbo-compressors which were installed within a period of 30 months with IRR11,600b […]

Iran Gas Output up 50% in 3 Years

The Iranian Minister of Petroleum, Bijan Zangeneh, has said that Iran’s natural gas output increased by 50 percent over the past three years. Saying that Iran has problems in supplying gas to all the provinces, the official said inauguration of the new South Pars phases has added 50 percent to the country’s gas output over […]

Norwegian Firm close to £600m Petchem Deal

By John Lee. A Norwegian oil and gas company is reported to be close to finalising a $600-million petrochemical contract in Iran. According to The Financial Times, the contract will be a 50/50 joint venture between Hemla Vantage and the Kharg Petrochemical Company, a quasi-privately-owned company, to produce and export liquefied national gas and liquefied […]

Iran Wastes $3.5bn a year in Gas Flaring

Deputy Oil Minister Mohsen Khojasteh Mehr has said that Iran loses at least 28 million cubic meters of natural gas due to flaring, wasting some $3.5 billion annually. Addressing Iran’s first International Flaring Conference in Tehran, he said that in addition to the financial cost, the practice also damages the environment. He urged the private […]

SPGC Gas Output at 102bcm

The South Pars Gas Complex (SPGC)‘s gas output stood at 102 billion cubic meters by the end of the previous Iranian calendar year, which ended on March 20, up 21% year-on-year. Managing director of SPGC told Shana that over 123.5 bcm of natural gas was extracted from the offshore South Pars gas field, which Iran […]

Iran Adds More Offshore Gas Production

President Hassan Rouhani officially inaugurated South Pars Gas Field’s phases 15 and 16 on Monday marking a major step forward in completion of the mega project’s development. Planned for an incremental development, the massive and rich on-shore and off-shore gas field jointly shared between Iran and Qatar will be fully operational in 24 phases. Production […]

Six South Pars Phases to be Operational by June

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 […]

Production Increases at South Pars

By John Lee. Gas production at South Pars is set to carry on rising in 2016 as new phases are added and production from existing projects is ramped up, reports Interfax. Phases 15 and 16 are yet to be officially inaugurated but are currently producing around 30-36 million cubic metres per day (MMcm/d) and are set […]

Will South Pars help Revive Iran’s Economy?

By Dr. Reza Yeganehshakib, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Will South Pars help bring Iran’s economy back to life? The Persian Gulf is home to one of the largest independent gas reservoirs in the world. Shared between Iran and Qatar, the Iranian […]

3rd GECF Summit kicks off

The third Gas Exporting Countries Forum (GECF), presided over by Dr Rouhani, was opened in Tehran on Monday in the presence of presidents from nine countries. Among the heads of states attending the 3rd GECF are presidents of Russia, Iraq, Bolivia, Venezuela, Guinea Equatorial, Nigeria and Turkmenistan, as well as the Prime Minister of Algeria. […]

Iran LPG Volume Up 70%

Gas refining companies affiliated to the National Iranian Gas Company (NIGC) produced more than 1.337 million metric tons of LPG in the first half of the current year (March 21-September 22), marking a record 70 percent increase compared to the corresponding period last year. “Gas output was also up by 4 percent with a total […]