Mr Mousa Souri MD of Pars Oil and Gas Company as saying that the phases 17 and 18 of the South Pars gas field will start early production in July and will be officially inaugurated by October.

Mr Mousa Souri said that the two phases are projected to produce 25 million cubic meters of natural gas per day. USD 5 billion in bonds will be issued in the current Iranian calendar year to speed up the implementation of South Pars gas field projects.

Mr Ahmad Qalebani MD of National Iranian Oil Company said that 7 phases of the South Pars gas field will certainly come on stream and start early production in the next year. The phase 12 and the phases 15, 16, 17 and 18 development plans have progressed by around 60%.

Mr Rostam Qasemi oil minister of Iran said that government has ordered all the 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.

Mr Qasemi said that Iran has attached the priority to boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia. Iran sits on the world's second largest natural gas reserves after Russia and is trying to grow its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

(Sourced from www.tehrantimes.com)