Eight phases of South Pars to go on stream by next year-end
IRNA - Islamic Republic News Agency
Tehran, Sept 23, IRNA -- Deputy Minister of Oil for Planning and Hydrocarbon Affairs’ Supervision Mohsen Khojastemehr said on Sunday that eight phases of South Pars gas field will start production by end of next year (March 20, 2014).
Khojastemehr told a press conference that the phases will add 250 million cubic meters to the national output.
He said based on early estimates, $71 billion should have been invested in South Pars project but $41 billion investment has thus far been made.
He added that oil production rose by 20 percent and that of gas by 22 percent last year compared to the previous year.
The official noted that contracts, valued $seven billion, will be signed in the near future for development of three common oil and gas fields.
"Last year, 12 oil and gas fields were discovered, that added up nine billion barrels to the in-situ oil and gas reserves."
The amount is other than the in-situ oil discovered in the Caspian Sea, he added.
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Islamic Republic News Agency/IRNA NewsCode: 1028281
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