Six South Pars gas field phases to be operational by March 2013

TEHRAN,March 15(MNA) - Iran will inaugurate six phases of the South Pars gas field by the end of the next calendar year (March 2013), deputy oil minister Javad Owji said. Once the phases come on stream, the gas field’s output will be increased by 200 million cubic meters (mcm) per day to 500mcm, Owji added. Meanwhile, the National Iranian Oil Company (NIOC) managing director said in December 2011 that seven phases of the South Pars gas field will certainly come on stream and start early production in the next calendar year. The phase 12 (equivalent to three phases), and the phases 15, 16, 17, and 18 development plans have progressed by around 60 percent, NIOC head Ahmad Qalebani told. Iran has attached the priority to boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia, Qasemi said. The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources. Iran sits on the world's second largest natural gas reserves after Russia.