Iran Expects to Complete South Pars Phases 15, 16 by March

Iran expects to complete and launch phases 15 and 16 of South Pars gas field by March this year, Press TV has reported citing government officials.

The South Pars gas field is located in the Persian Gulf straddling the common border between Iran and Qatar. The field's reserves are estimated at 14 trillion cubic meters of gas and 18 billion barrels of condensate. 

Mohsen Khojasteh-Mehr, deputy oil minister for planning and supervision over hydrocarbon resources, said on that the liquefied natural gas (LNG) project in Siri Island in the Persian Gulf would become operational in the near future. 

The project, which has attracted $500 million in investments, collects 3.5 million cubic meters of associated gas on a daily basis and converts it into light gas to be used either as feedstock for petrochemical plants or pumped into the national gas grid, he concluded.