Iran News ...


7/26/04

Phase 1 of Iran's South Pars gas field ready for operation

Tehran, July 26, IRNA -- Second unit of phase 1 of South Pars Gas Field development project was completed last Friday and its refinery will become operational in full capacity in late July, an official said.

The Persian-language daily 'Etemad` quoted Director of the project, Rahim Tabrizi, as saying that with full operation of this phase, its production units will be gradually delivered to Pars Oil and Gas Company.

The Petropars Company implements the development project of South Pars phase 1, aiming at producing 25 million cubic meters per day of natural gas, 40,000 barrels of gas condensates and 200 tons of sulfur.

Over 100 domestic and foreign contractors participated in development of the project in various fields including designing, construction and utilization. The project cost is estimated to be around 1.181 billion dollars.

According to Iran's Petroenergy Information Network, the South Pars field in the Persian Gulf has been divided into 25 phases. Iran sits on the world's second largest proven gas reserves after Russia.

The Iranian government is hoping to boost gas production from 110 billion cubic meters (3.884 trillion cubic feet) in 2000, to 292 cubic meters (10.311 trillion cubic feet) in 2010.

Once completed, phase 1 is expected to produce about 28.3 million cubic meters (one billion cubic meter) of gas on a daily basis for domestic consumption.

... Payvand News - 7/26/04 ... --



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