Iran safeguards its share at joint gas field after 26 years

EghtesadOnline: Iran’s gas production in the world’s largest gas field of South Pars in the Persian Gulf has become equal to Qatar’s for the first time since 1991.

News ID: ۷۴۰۵۴۵

25 March 2017

South Pars, known as North Dome in Qatar, is the world’s largest gas field. The field with an area of 9,700 square kilometers is shared between Iran and Qatar. 3,700 km2 of the total area belongs to Iran.

According to IRNA, it is estimated that the complete development of the South Pars phases will guarantee Iran’s energy supply; then the country will annually earn 100 billion dollars from it.

According to reports, South Pars has experienced the daily growth of 300 million cubic meters which is still increasing.

The first vessel of Floating Production, Storage and Offloading (FPSO) in the Middle East entered the Persian Gulf waters in recent days, and the gas production from the South Pars oil layer started on March 19, 2017.

Oil production in the South Pars is due to begin as a test to reach 35,000 barrels per day. The next step is to export the produced oil to the global markets. It is predicted that the time of the export would be at most 45 days after the start of production.