Iran Flares South Pars Phases 15,16

Iran has flared phases 15 and 16 of South Pars gas condensate field and plans to bring them on stream later this year, Tehran Times reported.

Iran sits on the world's second largest natural gas reserves after Russia, and is trying to up its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

 The gas field is shared by Iran and Qatar and is divided into 28 phases, has about 14 trillion cubic meters of gas, or about eight per cent of the world’s total reserves, and more than 17 billion barrels of liquefied natural gas resources

South Pars gas field produced 86 billion cubic meters of natural gas during the Iranian calendar year that ended on March 19.