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16-03-23

Iran Reaches Record Natural Gas Production in South Pars Gas Field

(MENAFN) Iran has achieved a new record in natural gas production in the South Pars gas field, located in the Persian Gulf and shared with Qatar. According to an official with the South Pars Gas Company (SPGC), which is responsible for developing the field’s refineries, the cumulative natural gas production from the field has reached 241 billion cubic meters (bcm) in the current Iranian calendar year (ending on March 20). At a press conference on the occasion of the South Pars phase 14 refinery inauguration, Oil Minister Salman Khazaei reported that 700,000 barrels per day (bpd) of gas condensate is also being produced at the field.

The South Pars gas field is divided into 24 standard phases of development in the first stage, most of which are now fully operational. SPGC is responsible for the refineries of the complex onshore, while POGC operates the platforms of the field offshore.

A report published by the Oil Ministry’s Planning Directorate showed that the capacity of Iran’s daily natural gas production exceeded 1,000 mcm in the previous Iranian calendar year 1400 (ended on March 20). This was due to an increase in gas production from the South Pars gas field of more than four percent compared to the preceding year (1399).

The South Pars field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters. It is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.
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