Minister: Iran to Focus on Implementation of South Pars Projects

News ID: 137222 Service: Economy
بیژن زنگنه

TEHRAN (Tasnim) – Iran is determined to bring the previous contracts on South Pars gas field to operational phase, and has no plan to sign any new contract over the giant field, Iran's oil minister said.

“We will not sign any new contact about South Pars, and we should only implement the previously-signed contracts,” Bijan Namdar Zanganeh told Tasnim on Tuesday.

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.

Zanganeh further stated that in recent years, Qatar has extracted more resources from South Pars gas field than Iran.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.

The Iranian minister also added that the administration has no plan to increase the price of gasoline, at least until the end of this Iranian year (ends on March 20, 2014).

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