“The project is about 95 percent complete, and it will be ready to be inaugurated before the end of this Iranian year (ends on March 20),” Hassan Jahangiri, implementation and project manager at Pars Oil & Gas Co., said of the phases 17 and 18, Bloomberg Business Week reported on Sunday.
“We are waiting for gas from the offshore fields,” he added.
Jahangiri said the phases will produce a combined 50 million cubic meters a day of gas and 80,000 barrels a day of condensate, adding that they are scheduled for completion by the new Iranian calendar year starting on 21 March.
Iran, with the world’s biggest natural gas reserves, is raising production from South Pars to provide fuel for power plants as well as raw material for chemical factories.
South Pars is the world’s largest gas field near the Iranian city of Assaluyeh which the country develops in over two dozen phases.
Earlier, Mohammad Hasan Peyvandi, vice president of Iran’s National Petrochemical Co., said that the country plans to add some 40 million tons of annual petrochemicals production capacity at Assaluyeh in the next five years.