S Pars production value climbs in 2017

BUSHEHR, Dec. 02 (MNA) – The South Pars oilfield’s total production value from Mar. 21 to Oct. 22 this year has increased $3.155 billion more than the same period last year, a senior official with South Pars Gas Company (SPGC) said Saturday.

The export planning manager of South Pars Gas Company, Abdolrahman Salehi, said the complex's gas production has increased by 21 per cent by October 22, indicating a $2.5 billion increase in the production value this year.

He went on to note a 13 per cent increase in the production of gas condensates in the same period, adding “this increase in production has brought about $643 million more in financial gain than what was obtained last year.”

The development of South Pars, as the world's largest gas field, has led in recent years to an increase in production and, consequently, an increase in revenue for the country. South Pars is shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran's territorial waters in the Persian Gulf. 

MS/4160159

News Code 129864

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