Gas production to soar by 100mn cbm

News ID: 3821888 -
TEHRAN, Nov. 12 (MNA) – POGC managing director has announced that Iran’s volume of gas production from South Pars joint field will rise by 100 million cubic meters in the present year (to end March 20, 2017).

On Iran’s plan to overtake Qatar as regards has production at South Pars joint gas field, Managing Director of the Pars Oil and Gas Company (POGC) Mohammad Meshkinfam said “at the moment, daily gas production of Iran at South Pars has reached about 420 million cubic meters.”

“Implementation and operation of six new gas platforms at the joint field has been put on the agenda,” highlighted the official asserting that development and completion of remaining parts at Phases 17, 18, 19, 20 and 21 are being carried out.

He underlined that the country’s volume gas production will amount to about 500 million cubic meters by December 20; “upon completion of unfinished projects, the overall production will reach 530 or 540 million cubic meters by the end of the current Iranian calendar year.”

Meshkinfam, while recalling that Iran’s overall gas production will rise by 700 million cubic meters in the current year, emphasized “the Qatari side is currently recovering approximately 540 to 550 million cubic meters from South Pars.”

POGC managing director stated that Iran’s volume of gas production at South Pars will be equal to that of Qatar by the end of the current year reiterating “on the other hand, Iran is expected to outshine the Qatari side once remaining phases come on stream.”

On November 08, the French company Total and China’s CNPC signed an Agreement in Principle (AiP) with Iran's Petropars for the development of South Pars Phase 11 on Tuesday in Tehran while the final agreement will be inked in 2017.

Speaking during the contract signing ceremony, Iran’s Oil Minister Bijan Zanganeh noted that new projects will be implemented in 27 new phases of South Pars field; “these projects aim to prevent pressure drop and well as to increase the recovery factor in the joint field.”

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