Iran's South Pars Gas Field Will be Fully Developed by 2018

Iran's South Pars gas field will be fully developed by March 2018, according to managing director of the Organization of Pars Special Economic Energy Zone.

Mehdi Yousefi on Monday said that based on the oil ministry planning, phases 15,16, 17, 18 and 19 of the South Pars will become operational by the year-end and therefore more than 100 mcm will be added to the daily gas production capacity of the country, IRNA reported.

Eight percent of the identified gas reserves of the world is located in the joint South Pars gas field which accounts for 50 percent of Iran's gas reserves, Yousefi said.

Development of the giant gas field is being carried out in 29 development phases.

The gas production capacity of each phase is 25 mcm/d, Yousefi said, putting the current gas production capacity of South Pars at 450 mcm/d.