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 in the twin projects which were inaugurated by President Rouhani as well as Minister of Petroleum Bijan Zangehen has exceeded since December 2013 15.5 billion cubic meters of gas, along with 14 million barrels of gas condensates, 3,000 tons of sulfur, and more than 5,000 tons of ethane.

The total value of products from the phases’ refinery was above 4.5 billion dollars.

The daily production target for development of phases 15 and 16 are set at 56.6 mcm of natural gas, 75,000 barrels of condensates, and 400 tons of sulfur, as well as 1.05 million tons of LPG and 1 million tons of ethane annually.

A consortium of Iranian firms are developing the phases’ on-shore and off-shore sections.South Pars which is supplying about 55 percent of the nation-wide gas consumption which stands at 430 mcm/d is expected to be completely operational by 2017 upon provision of the financial assets.

(Source: Pars Oil & Gas Company)

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