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First phase of Iran's South Pars gas field to come on stream by March

The first phase of South Pars gas field in Iran's southern province of Boushehr to be put into operation officially by end of the year on March 20 after a 14-month delay, IRNA reported from Tehran.

Managing Director of Petropars Company Gholam-Reza Manouchehri told reporters here on Tuesday that the first part of the first phase of South Pars development project had come on stream last week with the capacity to produce 350 million cubic feet of gas a day from four wells.

Manouchehri said the first phase of the field has been the biggest development project thus far implemented the field of oil and gas by Iranian contractors.

He said the project includes drilling 12 wells, laying 32-inch pipelines for transfer of gas from offshore to onshore installations, establishment of gas sweetening installations and recovery of sulfur and granule from bulk of gas reserves.

The official said the project is expected to earn the country at least 750 million dollars a year.

The first phase of the project, he said, has cost the country about dlrs 800 million.

As for the phases six, seven and eight of South Pars gas field, the official said drilling operations on the wells have started, making about a 13.5 percent progress.

The official said operations will start by the weakened for establishment of a refinery for the three phases at a cost of dlrs 1.207 billion.

Contract for establishment of the refinery has been signed with a consortium, comprising a domestic, two Japanese and a south Korean companies.

The first segment of projects for development of the phases six, seven and eight in the field are expected to start operation by May 2006, the official concluded.

Iran's petrochemical output to reach dlrs 3.5bn next year

Value of Iran's petrochemical products will reach dlrs 3.5 billion in the next Iranian calendar year (to start on March 20) and to dlrs 2.2 billion by end of this year on March 19, 2003, from dlrs two billion in the first 10 months of the year (started on March 21, 2003).

Announcing this, Managing Director of Iran Petrochemical Commercial Company Mohammad Ehtiati told reporters in Tehran on Tuesday that about two billion dollars worth of petrochemical products will be exported next year.

Ehtiati said 30 million tons of petrochemical products have been sold in advance for dlrs seven billion by the year 2009.

He said the products put on advance sale constitute 30 percent of the petrochemical products by 2009.

The official said petrochemical exports have shown 40-fold increase in the post-Islamic Revolution era.

National petrochemical output stood at two million tons worth less than dlrs 70 million before the Islamic Revolution.

... Payvand News - 2/4/04 ... --

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