Iran expecting more gas from South Pars
The head of an Iranian energy company said November 8 more production is expected from the platforms situated in the giant South Pars gas field.
“We are fully prepared to produce gas from 37 platforms in South Pars at the rate of 700mn m3/day,” said Mohammad Meshkinfam, the CEO of the Pars oil and Gas Company.
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As of 2019, the US Energy Information Administration (EIA) estimated that Iran was the third-largest natural gas producer in the world behind the US and Russia. EIA estimates that, at full capacity, South Pars could produce as much as 266bn m3 of natural gas annually.
Gas production from South Pars started in 2003; by 2019, 23 development phases were in operation. Despite mounting sanctions pressures, the EIA said, Iranian gas production has increased steadily over the past 20 years.
Iran in May awarded a $1.78bn contract to a state-owned subsidiary of the National Iranian Oil Co (NIOC) to develop the Farzad-B gas field in the Persian Gulf.
The NIOC estimates the field's reserves at 651bn m3 of in-place gas and 115mn barrels of condensate. Its production will be processed at facilities at South Pars.