Iran on Saturday announced that its production of natural gas from South Pars energy zone had increased to as high as 440 million cubic meters per day (mcm/d).

Mehdi Yousefi, the managing director of Special Pars Economic Energy Zone (SPEEZ), told reporters that the increase had been materialized from new phases that had been put on stream over the past two years.

Yousefi added that South Pars production had overall seen an increase of 35 percent since 2013 when the administration of President Hassan Rouhani came to office.

The official further added that about 50 percent of Iran’s natural reserves are situated in South Pars.  He said Iran hopes to increase production from the huge field that it shares with Qatar to as much as 800 (mcm/d) in the future.

South Pars, divided into 29 development phases, 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 about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

The latest section to finish in South Pars was Phase 12 which was put on stream last March. Other latest projects to complete include parts of Phases 15&16 as well as Phases 9&10.

Source: Press TV