Iran's Gas Output Reaches 70 bcm in the Current Iranian Calendar Year

Iran produced 70 billion cubic meters of natural gas during the first five months of the current Iranian calendar year (started March 21, 2015), according to Abdolhossein Samari, National Iranian Gas Company’s deputy managing director for operations.

The output is 5 percent higher than that recorded in the same period last year, state owned Shana News quoted Samari as saying.

Last week, a top advisor to Iran’s Oil Minister Bijan Zangeneh said Iran's natural gas output is expected to increase by at least 50 million cubic meters per day (mcm/d) before April 2016, Press TV reported.

Mahmoud Astaneh added that the output hike would push up the country’s collective gas production capacity to as high as 700 million cubic meters per day. 

Country’s South Pars field contains 40 trillion cubic meters (tcm) of natural gas.  It 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 are situated in Qatar’s territorial waters.

The gas field is estimated to contain 18 billion barrels of condensate.