May 12 2012
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Iran's gas reserves in Persian Gulf up 26tcf
Drilling operations at the Kish gas field have progressed by 70 percent, the National Drilling Company of Iran deputy director said earlier. "Some 60,000 meters of drilling will be carried out," Mehran Makvandi added, the Shana News Agency reported. Oil Minister Rostam Qasemi has said that the National Iranian Oil Company and its subsidiaries should finish drilling wells and start gas production as soon as possible. He said the bulk of Iran's gas reserves are located in Kish gas field and development and exploitation of the field would foster national development.
Development plan of the Kish gas field started in 2007. The field holds around 66 trillion cubic feet of in-situ gas and 514 million barrels of condensates. Iran has the second largest proven gas reserves in the world after Russia. Iraq has said that it needs 10 to 15 million cubic meters of Iranian gas each day. Iran's natural gas production capacity stands at around 554 million cubic meters per day, the National Iranian Gas Company's spokesman said on February 5. Majid Boujarzadeh told the Pana News Agency that taking the imported gas from Turkmenistan into account, some 600 million cubic meters of natural gas is supplied across the country each day. Iran exported over 7.6 billion cubic meters of natural gas last year, which ended on March 19, up 10.5 percent compared with the same period last year. Iran sits on the world's second largest natural gas reserves after Russia.
© Tehran Times 2012
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