Iran Seeks to Triple South Pars Output

Iran plans to triple production of gas at the South Pars field once its new phases located in the Persian Gulf come on stream, country's oil minister Rsotam Qasemi said.

The phases 15 and 16 of the gas field will be launched in October, according to the minister.

Qasemi stressed on the need for expediting and maximizing the oil and gas extractions in the joint fields, as it is currently low compared to that of the neighboring Arab countries. Iran shares joint oil and gas fields with Qatar, Iraq, and the Persian Gulf littoral states.

The Islamic Republic which is interested in signing an agreement with Iraq for developing the joint oil fields in the border areas, is exploiting avenues for signing an agreement that would facilitate the two nations increase their crude output, the managing director of the Iranian Central Oil Fields Company Mehdi Fakour said.