Iran plans to boost gas production from the South Pars field, the world’s largest gas field, to 630 million cubic meters per day (mcm/d) up from 580 mcm/d by mid-March, SHANA reported.
“Iran currently extracts 580 mcm/d from South Pars. With the realization of expansion plans, this figure will increase to a new record of 630 million by the end of the [Iranian] year [March 20],” Mohammad Meshkinfam, Managing Director of Pars Oil and Gas Company, said.
Gas production from the South Pars field, which Iran shares with Qatar, has doubled to 555 mcm/d since last March, according to Iranian President Hassan Rouhani.
Iranian gas production has struggled to keep up with increasing domestic demand as US sanctions hamper the country’s ability to attract outside investment.
Meshkinfam’s statement came on the same day that officials in the China National Petroleum Corporation (CNPC) announced that the company would suspend its investment in the field on the back of US pressure.
CNPC was expected to replace Total as the operator of Phase 11 project at South Pars, after the French company exited the country upon the resumption of US sanctions.
Washington reimposed sanctions on Tehran’s energy sector on November 4 after pulling out of the 2015 nuclear deal in May.