Petropars to inaugurate refinery at South Pars phase 12

TEHRAN,July 25(MNA) – Iran’s Petropars Company will inaugurate phase 12 of the South Pars gas field refinery by the end of this year, which ends on March 20, 2013, the Shana News Agency quoted Petropars managing director as saying on Tuesday. Mohammad-Javad Shams said that the phase is projected to produce 75 million cubic meters of gas, 120,000 barrels of condensates and 750 tons of sulfur per day. National Iranian Oil Company Managing Director Ahmad Qalebani said that seven phases of the South Pars gas field – phase 12 (equivalent to three phases), and phases 15, 16, 17, and 18 – will come on stream and start early production this year. 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. Deputy Oil Minister Alireza Zeighami has said that about $25 billion dollars should be invested in developing new oil refining capacity with priority given to the Pars condensate refinery in Shiraz, the Persian Gulf Star refinery, the Anahita refinery in Kermanshah, the Shahriyar refinery in Tabriz, and the Hormoz refinery in Bandar Abbas. Zeighami said about 70 percent of the process of building oil refineries has been indigenized by Iranian contractors and manufacturers and the figure can be increased up to 90 percent by 2015.