South Pars Gas Production Capacity to Rise

Gas production capacity of South Pars natural gas field will go up by 175 million cubic meters after the completion of phases 12, 15, 16, 17 and 18 by the end of current Iranian calendar which started on March 20.

IRNA has reported that South Pars' gas production capacity registered a new record last year reaching 290 million cubic meters per day. Last year, some 84.7 billion cubic meters of gas were extracted from the South Pars. 

The South Pars gas field is one of the largest gas resources of the world. The giant field is located 100 kilometers from the southern coast in the Persian Gulf and is a joint property of Iran and Qatar. 

By implementing the current development projects, the country is expected to earn more than $40 billion revenues from the sale of gas products from various phases of the giant field. 

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