Revenue from Iran's South Pars Gas Exports to Touch $100bn

Iran's annual revenues from its exports of the natural gas from the giant South Pars gas field will reach $100 billion in next three years.

Mousa Souri, the managing director of the Pars Oil and Gas Company, said that Iran plans to increase its daily gas exports to 400 million cubic meters by developing the remaining phases of the huge natural gas field during the period, Press TV reported.

"Projects worth $68 billion are already under construction in the South Pars gas field," Souri said.

South Pars covers an area of 9,700 square kilometers, 3,700 square kilometers of which are within Iran's territorial waters in the Persian Gulf.

The Iranian gas field contains 14 trillion cubic meters of natural gas (about eight percent of the world's reserves) and more than 18 billion barrels of liquefied natural gas (LNG) resources.