Sanctions won't stop oil development, oil minister says

Tehran, May 21, IRNA – Iran's Oil Minister Bijan Zanganeh said on Thursday that installation of the base of the first jacket of South Pars Field's Phase 11 shows that sanctions cannot stop development of Iran's oil industry. Zanganeh made the remarks in the inauguration ceremony of the facility which was held through videoconference in which Iran's President Hassan Rouhani also attended. The Oil Minister said the South Pars Field produced 280 million cubic meters of gas in 2013 which has now increased to 700 million cubic meters, with an extra 50 million that would be added this year. He also said that the Rouhani administration that has spent most of its time in office under severe sanctions, has managed to compete all the phases of South Pars Field, while there were 17 unfinished phases when he came to office. Underlining that the current project in the Phase 11 is not a big project, the Minister added: "But our message is that we are not stopped by sanctions."