Iran’s South Pars Exports 2nd Cargo of Gas Condensate

TEHRAN (Tasnim) – The second consignment of gas condensate from the 12th phase of South Pars gas field was exported to China and the United Arab Emirates (UAE), an Iranian deputy oil minister announced.

Iran’s South Pars Exports 2nd Cargo of Gas Condensate

Deputy Oil Minister Roknoddin Javadi said the shipment contained 1.15 million barrels of gas condensate.

He said the 12th phase of the giant offshore field is producing condensate on a regular basis.

“The (12th) phase is now exporting an average of one cargo of (gas) condensate to foreign countries each month.”

Back in July, a high-ranking Iranian energy official said the production of the phase 12 of South Pars gas field has reached 25 million cubic meters per day (mcm/d) and will hit 60 mcm/d before the cold season.

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.

It is one of the country's main energy resources. This gas field covers an area of 9,700 square kilometers, of which 3,700 square kilometers belongs to Iran.

The Iranian portion is estimated to contain some 14 TCM of gas reserves and some 18 billion barrels of gas condensates. This amounts to roughly 7.5% of the world gas reserves and approximately half of the Iran’s gas reserves

Iran sits on the world’s largest natural gas reserves. It has an estimated 1,193 trillion cubic feet of gas reserves and the world’s fourth-biggest oil deposits of 157 billion barrels, according to BP Plc (BP/)’s Statistical Review published in June 2014.

Related news
Most Visited in Economy
Top Economy stories
Top Stories