A majority of Iran’s South Pars gas field is expected to be developed by 2017, following the release of funds after economic sanctions are lifted
Iranian president Hassan Rouhani is hopeful the sanctions are lifted soon, following which the gas field – considered the largest in the world – can be developed.
Rouhani said that the South Pars oil and gas project will be developed in 24 phases, while inaugurating two new phases — 15 and 16 — of the South Pars Energy Zone in Assalouyeh.
The President further added that South Pars Phases 17 and 18 are scheduled to become operational by March 2017.
South Pars Phases 15 and 16 developments are targeted to produce 56.5mn cu/m of natural gas, 75,000 barrels of condensates, 400 tonnes of sulfur, 1.05mn tonnes of LPG and one million tons of ethane per annum.
Iran’s minister of petroleum Bijan Zangeneh added that development of all phases of the South Pars gas field, except for a section of Phase 14, would be completed entirely within the next two years, should adequate funds be channeled into the projects. “Development of Phases 17 and 18 is also near completion. The phases have even started gas production. They are expected to become operational in March or April 2016,” Zangeneh revealed.
According to reports, gas refineries of the various South Pars phases have helped increased Iran’s processing capacity by 180mn cu/m.
Zaganeh also stated that over the last 30 months, around 150mn cu/m of gas were extracted from the South Pars gas field’s six phases, which has helped to reduce consumption of liquid fuels by domestic power plants.
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