21 May 2013
Investments worth $16 billion are expected in the South Pars (SP) Gas Field in Bushehr province in the current Iranian year (started March 20, 2013), said the managing director of Pars Oil and Gas Company.
Mohammad Reza Zahiri said a major portion of the fund will be procured from domestic resources.
The SP gas field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared by Iran and Qatar.
According to the International Energy Agency, the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensates.
This gas field covers an area of 9,700 square kilometers, of which 3,700 square kilometers (South Pars) are in Iranian territorial waters and 6,000 square kilometers (North Dome) are in Qatari territorial waters.
Gas production started from the field with the launch of Phase 2 in December 2002 to produce 1 billion cubic feet per day of liquefied gas. Gas is sent onshore via pipeline and processed at Assalouyeh, Bushehr province.
NIOC is planning to develop the field in 24 to 30 phases, which will produce about 25 billion to 30 billion cubic feet of natural gas daily.
Investments worth $16 billion are expected in the South Pars (SP) Gas Field in Bushehr province in the current Iranian year (started March 20, 2013), said the managing director of Pars Oil and Gas Company.
Mohammad Reza Zahiri said a major portion of the fund will be procured from domestic resources.
The SP gas field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared by Iran and Qatar.
According to the International Energy Agency, the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensates.
This gas field covers an area of 9,700 square kilometers, of which 3,700 square kilometers (South Pars) are in Iranian territorial waters and 6,000 square kilometers (North Dome) are in Qatari territorial waters.
Gas production started from the field with the launch of Phase 2 in December 2002 to produce 1 billion cubic feet per day of liquefied gas. Gas is sent onshore via pipeline and processed at Assalouyeh, Bushehr province.
NIOC is planning to develop the field in 24 to 30 phases, which will produce about 25 billion to 30 billion cubic feet of natural gas daily.
© Iran Daily 2013
