Developing South Pars Phase 14 and Kish Gas Field, Iran's next Priority

EghtesadOnline: Developing Phase 14 of South Pars Gas Field along with the Kish Gas Field are among priorities of Pars Oil and Gas Company in the next fiscal (begins March 21), the managing director said Monday.

News ID: ۷۴۶۸۴۱

05 March 2019

Mohammad Meshkinfam said that as phases 13, 22 and 24 are ready for launch before the calendar year is out, POGC, a subsidiary of National Iranian Oil Company, will focus on Phase 14 as its main priority next year, ILNA reported.

Phase 14 is built to produce 56 million cubic meters of gas per day, 400 tons of sulfur, 2,800 tons of propane, 75,000 barrels of condensates and 2,550 tons of petrochemical feedstock.

It will help meet domestic demand and supply feedstock to petrochemical units in the Pars Special Energy Economic Zone in southern Bushehr Province, Financial Tribune reported.

South Pars is the world's largest gas field shared between Iran and Qatar, covering an area of 3,700 square kilometers of Iran's territorial waters in the Persian Gulf.

More than $72 billion has been spent on the venture since work started. The field is being developed in 24 phases.

“Developing Phase 11 is also on the POGC agenda,” Meshkinfam added.

The company has been commissioned to develop the second and third phases of Kish Gas Field, the second largest in the Persian Gulf after SP.

Upon completion of development plans, the field will produce 85 million cubic meters of natural gas per day.

As the world's fifth biggest offshore gas field, Kish reserves were discovered in 2006 and is believed to hold an estimated 1.9 trillion cubic meters of natural gas in situ of which 1.4 trillion cubic meters are recoverable. It also contains more than 500 million barrels of gas condensates.

Unlike South Pars that is jointly owned with Qatar, Kish is fully inside Iranian maritime borders near the strategic Strait of Hormuz.