POGC to increase gas production in South Pars field
TEHRAN -- Managing director of POGC Mousa Souri has announced that Iran will increase gas production in the giant South Pars gas field, adding that the country will surpass Qatar's gas production in the shared field.
Mr. Souri said Iran's gas recovery from South Pars would equal Qatar's after five new phases of the giant field come on stream. He added that the development of phases 12, 15, 16, 17 and 18 of South Pars would add nearly 200 MMcmpd of sour gas to the shared field's output on the Iranian side. Iran is currently producing 300 MMcmpd of gas from South Pars.
Iran's deputy oil minister said a sum of $80 billion will be invested in the development and completion of South Pars gas field phases. The South Pars gas field covers an area of 9,700 sq km, 3,700 sq km of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 sq km, i.e. the North Dome, are in Qatar's territorial waters.
The South Pars gas field holds 8% of total gas reserves of the world and half of the country's proven gas reserves.