The CEO of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam announced that the production of natural gas from South Pars field has reached its peak and is expected to decline in the next four years, Shana news agency stated.

He elaborated that the current gas reserves of the field amount to 410 trillion cubic feet (tcf) representing 8% of the world’s gas reserves and 50% of Iran’s gas reserves.

According to the statement, South Pars produces 700 million cubic meters per day of natural gas (mmcm/d), while other fields produce 252 mmcm/d, in addition to 70 mmcm produced from associated petroleum gas (APG).

Also, Meshkinfam noted that South Pars production of other products reached 12 million tons of ethane, 12 million tons of liquefied petroleum gas (LPG) and 700,000 barrels of gas condensate per day.