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Iran South Pars Revenues Hit $191 Billion

Source: www.gulfoilandgas.com 4/19/2017, Location: Asia

Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said Iran has so far recovered 1,060 billion cubic meters of natural gas from the supergiant South Pars Gas Field, adding the recovery has fetched Iran over 191 billion dollars in revenue.

Addressing a ceremony to inaugurate 6 development phases of the gas field on Sunday, the official said Qatar has recovered 1,771 billion cubic meters of gas from the field in its own territories.

He expressed hope that launching new development projects at the field will bring Iranís revenues from it close to that of Qatar.

Mr. Kardor said Iranís recovery of gas from the field has nearly doubled from 2013, beginning of President Rouhaniís first term.

In the year Iran produced 285 mcm/d while it is now recovering 570mcm/d, he added.

Iran pumped out 155 bcm of gas from the field last Iranian calendar year which ended on March 20, setting a new record in production from the field.

Iran has so far invested 71 billion dollars for developing the gas field of which $19b has been procured by domestic investors and the rest were supplied by dipping into the National Development Fund of Iran (NDFI), banks, bonds, etc. he added.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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