Russia’s Gazprom is considering the development of four Iranian gas fields and is planning to present relevant offers by late March, said Bijan Zangened, Iranian Minister of Petroleum, according to TASS News Agency.

“Iran has signed memoranda of understanding (MoUs) with Gazprom for carrying out studies on development projects of Farzad A, Farzad B, North Pars, and Kish gas fields, and the Russian company has signaled keenness to develop the fields,” Zangened stated.

Zangened separately announced that South Pars natural gas production exceeded Qatar’s output, reaching 553 million cubic meters per day, increasing by 83 million cubic meters, (KUNA) reported.

Iran executed six development phases for the South Pars natural gas field in order to boost its output by 150 million cubic meters per day during 2018. A consortium led by French Total signed a contract worth $ 4.879 billion with Iran’s National Oil Company in July 2017, in order to develop South Pars’ 11 stages.