Oil Min: South Pars Oil Layers Exploitation Slated For Next Year

Tehran, Aug 19, IRNA – The new Iranian oil minister said exploiting South Pars gas fields oil layer will be finalized next year (starts March 21, 2014), saying that some gas production projects of South Pars Field will be finalized this (Iranian) year (ending on March 20, 2014). Speaking to IRNA after the end of the first session of the 11th government’ first cabinet session, Oil Minister Bizhan Namdar-Zanganeh said, Our topmost priority in South Pars is the completion of the units which are nearly finished, resorting to our entire power, energy, financial assets, management, and facilities, to functionalize them. Namdar-Zanganeh emphasized, “The Oil Ministry of the 11th government will take advantage of its entire might, expertise, and commitment, aimed at making the South Pars operational as soon as possible. The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf. It is the worlds largest gas field, shared between Iran and Qatar. According to the International Energy Agency (IEA), 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) is in Iranian territorial waters and 6,000 square kilometers (North Dome) is in Qatari territorial waters./end