South Pars' Main Development Phase to be Launched Soon

Iran is preparing to launch the main development phase of the South Pars gas field in the coming weeks, Press TV reported Tuesday.

Phase 12 development of South Pars, which is jointly operated by Iran and Qatar, is forecast to earn Iran $17.5 million a day in revenue from gas condensate sales. The phase is also expected to add 81 million cubic meters a day (mcm/d) of sweet gas to the country’s production.

Full development of Phase 12 of South Pars would add 81 million cubic meters a day (mcm/d) of sweet gas to the country’s production, Press TV said.

South Pars, divided into 29 development phases, is estimated to hold 40 tcm of natural gas and 50 billion barrels of condensate.  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.