S Pars gas production at record high

The monthly production of South Pars gas field has hit a record high of 7.280 billion cubic meters from January 21 to February 20.

The production manager of Pars Oil and Gas Company told IRIB on Sunday that the monthly gas production of the joint field passed 7.2 billion cubic meters in the Iranian month of Bahman, marking a record since the exploitation of the field nine years ago.

Farrokh Alikhani further noted that the average daily gas production of South Pars gas field is 242 million cubic meters, which constitutes roughly 40 percent of the total gas production of the Islamic Republic.

The official underlined that the executive operations are currently underway for 17 phases of the gas field, and over 300 other gas wells should be drilled in the Persian Gulf in order to develop the remaining phases of the field.

Earlier on Friday, a high-ranking Ukrainian trade delegation visited South Pars gas field in the southern port city of Assalouyeh, and expressed Kiev’s interest in increasing its participation in Iranian oil projects, particularly in South Pars.

Known as the world’s largest gas field, South Pars holds an estimated 50.97 trillion cubic meters of in situ gas and some 50 billion barrels of condensates.

The gas field covers an area of 9,700 square kilometers, of which 3,700 square kilometers (South Pars) is in the Iranian territorial waters and 6,000 square kilometers (North Dome) is in Qatar’s territorial waters.

Iran discovered 13 new oil and gas fields with in-place reserves of 14 billion barrels of oil and 45 trillion cubic feet of natural gas between August 2009 and August 2010, according to the Iranian Oil Ministry.

Iran has the world’s second largest natural gas reserves after Russia.