South Pars Output Crosses 95 bcm

Natural gas output from South Pars field exceeded 95 billion cubic meters (bcm) in the first 10 months of the Iranian calendar year (started March 21, 2015), reported state owned news agency Shana on Tuesday.

Pars Oil and Gas Company (POGC) managing director, Ali-Akbar Shabanpur told reporters last week that total annual production from the field will hit 130 bcm by year end.

Following the launch of phases 15 and 16 of South Pars gas field in January, Iran has caught up with Qatar in utilizing its share from the joint field, Shana added.

“Iran is producing 420 mcm daily from the field while Qatar is producing 650 mcm,” Shabanpur said in a televised program adding that Qatar used to produce 2.5 times more that Iran before the recent development project was completed.

He said that phases 15 and 16 cost about $5.5 billion dollars.