SP Exports Gas Condensates Worth $1.4b

Tehran, Oct 28, IRNA -- Iran exported over 1.6 million tons of gas condensates worth $1.4 billion from its giant South Pars (SP) Gas Field in the month ending October 22, an official Pars Special Economic Energy Zone (PSEEZ) said on Monday. Khodadad Rahimi, director general of PSEEZ’s Customs Department, said the figure shows a 170-percent increase in terms of value compared with the same period of last year. Rahimi added that PSEEZ also exported over 800,000 tons of non-oil goods valued at $600 million during the same period. "China, Japan, the UAE, India, Turkey and Iraq were among the main destinations of PSEEZ exports," he said. Iran, which sits on the world's biggest gas reserves, intends to boost gas production by increasing foreign and domestic investments, especially in its South Pars Gas Field. South Pars, which is divided into 28 phases, is located in the Persian Gulf on the border between Iran and Qatar. The field is estimated to contain about 14 trillion cubic meters of gas and 18 billion barrels of gas condensates./end