Iran to Add 150 mcmpd Gas to Current Capacity in 2013

Source: www.gulfoilandgas.com 4/9/2013, Location: Asia

Iran will manage to add 150 mcmpd of gas production to its current capacity through launching three new phases in South Pars gas field in the upcoming months, said managing director of the National Iranian Oil Company (NIOC) Ahmad Qalebani.

"Over 150 million cubic meters of gas per day will be added to the current gas production capacity in 2013," he said.

He further added phases of 12, 15 and 16 of South Pars gas field will be launched in 2013 which increase gas production in the country and helps production of other items for internal industries and exports.

Iran is currently producing 300 mcmpd of gas from South Pars.

Pars Special Economic Energy Zone (PSEEZ) was established in 1988 for the utilization of South Pars oil and gas resources and encouraging commercial activities in the field of oil, gas and petrochemical industries.

South Pars gas field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar. According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensate.

The South Pars gas field holds about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to up its gas production by increasing foreign and domestic investments, especially in South Pars Gas Field.

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