Iran produces 500bm3 gas from gas field shared with Qatar

Iran has increased gas production from South Pars shared field with Qatar in Persian Gulf to 500bm3.
Iran currently produces 285 to 300Mm3 gas daily from South Pars through 10 refinery projects. If 5 South Pars new phases are implemented, by next 5 months (well in Ahmadinejad’s second term), Iran will increase its gas production from shared fields in Persian Gulf to 480Mm3 daily, which will be equal to that produced by Qatar from shared fields.

Mehr News inquiries to Ministry of Oil revealed that from late March to early January of this year, a total volume of 63bm3 gas was produced from South Pars, which is predicted to rise with repair and renewal of sea excavation sites by late March 2013.

2.650bm3 from first phase, 14.7 bm3 from second and third phases, and 15.705 bm3 from third and fourth phases of South Pars field have been extracted from late March to early January 2013.

In the same period, 18.7 bm3 from 6th to 8th phases, and more than 11.113 bm3 gas have been extracted from 9th and 10th phases of South Pars. Ministry of Oil official data had it that during past 15 years, more than 430 bm3 natural gas has been extracted from South Pars, increasing the total volume to 500 bm3 with current year production.

In the last year, a total of 84.7 bm3 natural gas was extracted from different South Pars phases, bringing an income of $ 42b ($ 50 per barrel oil) from natural gas, gas fluids, and other products for the country.

Predictions show that after completion of all phases of South Pars, Iran’s gas production would increase to more than 700Mm3 daily.

It is speculated that 700 or 800Mm3 natural gas income from this source would be tripled, giving a sum of $ 120b to nation’s economy from South Pars gas fields.

South Pars is one of the greatest gas fields in the world, estimated to provide Iran with 14 trillions cubic meters of gas, which accounts for 50 percent of Iranian gas reserves and 8 percent of world reserves.