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Iran: Four phases of South Pars gas field to come on stream by March 2012

08/15/10 Source: Mehr News Agency, Tehran

Four phases of the giant South Pars gas field will come on stream by the end of the next Iranian calendar year (March 20, 2012), Pars Oil and Gas Company's managing director said here on Sunday.

South Pars, Iran

The Mehr News Agency quoted Ali Vakili as saying that phases 15 and 16 are currently 52 percent complete, while phases 17 and 18 are 50 percent complete.

Once the phases come on stream 100 million cubic meters of gas would be added to the nation's sweetened gas production capacity.

South Pars gas field's current production capacity stands at 75 million cubic meters of gas per year.

"For developing South Pars we reached the conclusion that we should not wait for foreign companies because at the moment the capability to develop through domestic companies exists," Vakili said, Reuters reported.

Iran has the second biggest gas reserves in the world after Russia.

The offshore South Pars field contains about half of the estimated 28 trillion cubic meters of the country's gas reserves.

South Pars is on the Iranian side of the world's largest known gas reservoir not associated with oil production. Qatar holds the southern section of the field, where it is known as the North Field. Qatar has developed its side of the field to become the world's largest exporter of liquefied natural gas (LNG).

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