ID :
284596
Wed, 05/08/2013 - 08:23
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Shortlink :
https://oananews.org//node/284596
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Iran to boost gas condensate output to 650,000bpd
TEHRAN,May 8(MNA) – Iran’s gas condensate production will rise to 650,000 barrels per day (bpd) in the current [Iranian calendar] year once new phases of the South Pars gas field come on stream, the managing director of National Iranian Oil Company (NIOC) announced.
Last year, the country’s gas condensate production stood at 530,000 bpd, SHANA quoted NIOC head Ahmad Qalebani as saying on Tuesday.
The current Iranian calendar year started on March 21.
Qalebani put the country’s daily oil production capacity at over 4 million barrels.
Iran’s daily gas production is near 700 million cubic meters (mcm), which will rise by 100 mcm by the end of the current year, he announced.
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 April 30.
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.