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Iran's South Pars gas field income reaches $40 billion in 2011

Source: ISNA

The Managing Director of the Pars Oil and Gas Company (POGC) Mousa Souri said South Pars gas field's income in 2011 reached $40 billion.

Mousa Souri told ISNA productions of 10 developed phases of the biggest gas field of the world totaled $40 billion in 2011, adding the amount has increased $4 billion comparing to 2010.

He stressed gas exploration from South Pars gas field increased 5.2 billion cubic meter compared to the last year and has reached to 83 billion cubic meter, and the production of gas condensations from the gas field has hit 117 million barrels estimated to be worth $40 billion. Souri said the daily average of gas exploration in the first 11 months of 2011 roughly totaled 233 million cubic meters. He noted some projects costing more than $68 billion are under way in POGC, adding the annual income from the South Pars would reach $220 billion by 2016.

Iran's South Pars Gas Field

The managing director continued building equipment of new phases by internal industry has increased up by 5-10 percent, stressing the production of 65 to 70 percent of the required tools for South Pars developed plans is done by internal companies.

... Payvand News - 03/14/12 ... --

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