Condensates Output in Iran's South Pars Surpasses 0.5 Million bpd

News ID: 1068047 Service: Economy
پارس جنوبی

TEHRAN (Tasnim) – Iran’s giant off-shore gas field, known as South Pars, is producing more than 500,000 barrels of gas condensates every day, managing-director of Iran’s Pars Oil and Gas Company (POGC) announced.

Speaking to the Tasnim News Agency, Ali Akbar Shabanpour said the condensates from the gas field are being exported, noting that its price equals that of crude oil in the international market.

Earlier in April, the official had announced that gas condensate output from South Pars reached 120 million barrels in the last Iranian year, showing a 15-percent rise compared to 104 mb produced a year earlier.

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.

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