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Iran to boost South Pars gas output
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Wednesday, 17 Oct 2012

Trend News Agency cited Mr Reza Almasi director of the National Iranian Gas Transmission Company as saying that Iran plans to increase South Pars gas field's output in order to use the produced gas domestically.

Mr Mohammad Ali Abdollahzadeh member of Iran's Parliament said that Iran is daily losing some USD 2.4 billion in its joint oil and gas fields. Since Iran has not invested enough money in its joint oil and gas fields, the nation is now lagging behind neighbors in production.

Mr Ahmad Qalehbani director of NIOC said that the National Iranian Oil Company attaches the top priority to the development of joint oil and gas fields. He referred to the key role of explorations in the oil sector adding, development plans at border areas are of high importance.

According to national development plans, crude oil and natural gas output should reach 5.1 million barrels and 1.4 billion cubic meters per day by 2015 respectively. Iran has attached priority to boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia.

Mr Rostam Qasemi oil minister of Iran has ordered all contractors of the South Pars gas field development projects to work round the clock in three shifts to complete development of all phases, especially the phases 12, 15, 16, 17 and 18.

The South Pars gas field is shared by Iran and Qatar. The Iranian share which is divided into 29 phases has about 14 trillion cubic meters of gas or about 8% of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.

Source - Trend News Agency


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