Iran to tap two phases of South Pars gas field

TEHRAN,May 1(MNA) – Iran will start production at the phases 15 and 16 of the South Pars gas field in the Iranian calendar month of Khordad, which begins on May 22, Pars Oil and Gas Company Managing Director Mohammad-Reza Zohairi said on Tuesday. The current Iranian calendar year started on March 21, 2013. Earlier this month, National Iranian Oil Company managing director Ahmad Qalehbani said that three phases of the South Pars gas field will come on stream in the current Iranian calendar year, which will boost the country’s natural gas production capacity by 150 million cubic meters per day. The phases 12, 15, and 16 will be tapped in the current year, ISNA quoted him as saying. Iran is currently producing 300 million cubic meters per day of gas from the South Pars. The South Pars/North Dome field is a gas field located in the Persian Gulf. It is the world’s largest gas field and is shared by Iran and Qatar. The field’s recoverable gas reserves are estimated to be equivalent to 215 billion barrels of oil. It also holds about 16 billion barrels of recoverable condensate. The South Pars field, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of total world reserves.