Oil Minister: Iran to Complete South Pars Development by Next 2 Years
- August, 13, 2013 - 20:28
- Economy news
TEHRAN (Tasnim) - Iranian Oil Minister Rostam Qassemi announced on Tuesday that Iran will finalize South Pars development projects within the next 2 years if Tehran maintains the current trend of development in the region.
“If we keep moving with the current pace (of construction), the file of South Pars (development) will be closed in about two years,” Qassemi told reporters here in Tehran today.
The Iranian minister also stated that the monthly construction progress in certain phases of South Pars has stood at 2%, which he described as “very good”.
Qassemi’s remarks came a few weeks after Iran’s former President Mahmoud Ahmadinejad inaugurated refineries of phases 15 and 16 of South Pars gas field on July 31.
The planning, design, and construction of the 15th and 16th phases of South Pars were entirely carried out by Iranian engineers and technicians.
When fully completed, the projects' daily output will be 56 million cubic meters of natural gas, one million tons of ethane, 75,000 barrels of gas condensates, 400 tons of sulfur, and 1,050,000 tons of liquefied petroleum gas (LPG), all to be exported.
The South Pars gas field, whose development has been divided into 28 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar.
It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.