Phase 12 is South Pars’ biggest phase in terms of volume of activities as well as investment and production levels. It is the country’s first gas project which has enjoyed, for the most part, a domestic design, construction and exploitation.
When fully operational, phase 12 which is equal to three standard phases will see some 3000 million cubic feet of sour gas extracted and sweetened per day, as well as 120,000 barrels of gas condensate and 750 tons of sulfur produced.
On the sidelines of the opening ceremony, Iran’s oil Minister Bijan Zangeneh noted South Pars phase 12 is the biggest project in the country’s history of oil industry, and will become operational on the eve of the 54th anniversary of the nationalization of Iran's oil industry.
Economic studies show with the operation of each South Pars phase, one percent is added to the country’s Gross domestic product (GDP), while phase 12 will add more than three percent of GDP.
The main objective of this project is to increase the daily production of sweet gas up to 75 million cubic meter, 120,000 barrels of gas condensate, as well as 750 tons of granulated sulfur. The phase will earn the country about 6 billion dollars a year only through its gas production, not to mention export of gas condensates.
According to Zangeneh, the top priority phases of South Pars have increased the country’s gas production up to 120 million cubic meters.
The South Pars field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar. According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensates.
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