Iran to outperform Qatar in gas production from joint field: Minister
Iran Press TV
Mon Sep 16, 2019 03:31PM
Iran's oil minister says gas production from the South Pars gas field is nearing record levels so that Iran could for a first time take the lead in daily production from the field which is shared with Qatar.
Bijan Namdar Zanganeh said on Monday that Iran's daily output from the world's largest gas field would reach 790 million cubic meters per day in a near future, outperforming Qatar which currently extracts around 620 million cubic meters a day from the field.
The announcement is a revision of previous estimates about Iran's increased production at South Pars. Zanganeh had said earlier this year that output from the field, which straddles the maritime border between Iran and Qatar in the Persian Gulf, would hit a target of 750 million cubic meters per day by the end of 2019.
That comes despite recurrent halts caused to Iran's development plans for the field as a series of American sanction enacted since last year have forced foreign companies to abandon or suspend projects at phase 11 of South Pars.
Zanganeh said Iran's ongoing development plans were focused on phases 13, 22-24 and the offshore section of the phase 14, adding that all of those projects would conclude by late March 2020.
The minister also hinted that Iran had invested more than $5 billion to stop flaring in its oil and gas facilities in the south, saying refineries using the flared gas were now producing around 2.5 million tons of more petrochemicals each year, generating around $2.5 billion in new income for the country.
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