Iran Can Earn $8bn From Every Phase of South Pars

Iran can earn $8 billion in revenue from every phase of South Pars natural gas field, Press TV said quoting managing director of Pars Oil and Gas Company (POGC).

Iran is currently producing 300 million cubic meters per day of gas from South Pars and has been trying to enhance its gas production by increasing foreign and domestic investments.  

The South Pars gas field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. North Dome, are in Qatar's territorial waters. 

The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight percent of the world's reserves, and more than 18 billion barrels of LNG resources.