Iran to Earn over $6bln Annually from 2 South Pars Refineries
- August, 23, 2015 - 13:12
- Economy news
TEHRAN (Tasnim) – Refineries of the 15th and 16th phases of the giant South Pars Gas Field in southern Iran will provide the country with $6 billion of annual revenue once completed.
Once the development project of refineries in the 15th and 16th phases are completed, their daily production of methane, ethane, propane, butane, gas condensates, and sulfur will be $20 million in value, amounting to over $6 billion a year.
The two phases developed by Khatam al-Anbia Construction Base are scheduled to be put into full operation in the near future.
Some 11 billion cubic meters of sweet gas and nearly 6.7 million barrels of gas condensates have been so far extracted from the refineries in their premature launch.
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.
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.