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Iran to Invest 16 Billion Dollars in South Pars Gas Field

Source: Moj News

The Islamic Republic of Iran plans to invest more than 16 billion dollars in South Pars gas field to develop its remaining phases in the current Iranian calendar year (started March 21).

Managing Director of Iran's Pars Special Economic Energy Zone Pirouz Mousavi said that the ministry plans to start production of gas in phases 15-18 of South Pars field.

The production of more than 700 million cubic meters in the giant gas field is the goal of the ministry, Mousavi added.

The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf. It is one of the world's largest gas fields, shared between Iran and Qatar.

According to the International Energy Agency, the field holds an estimated 50.97 trillion cubic meters of in-situ gas, or some 50 billion barrels of condensate.

... Payvand News - 4/12/11 ... --

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