News / Energy

Iran natural gas production rises 20%

Monday, 09 March 2015 7:30 PM [ Last Update: Monday, 09 March 2015 7:36 PM ]

Iran says its natural gas production has increased by nearly 20% in the current calendar year.

Iran says its natural gas production has increased by nearly 20% in the current calendar year (starting March 20, 2014) compared to the same period last year.

“Following the activation of several phases of South Pars gas field, a volume of 100 million cubic meters of natural gas was added to the country’s daily natural gas output,” IRNA quoted National Iranian Gas Company Dispatching Director Manouchehr Taheri as saying.

The NIGC official also announced that at least 60 million cubic meters of natural gas will be added to the country’s daily output in the next calendar year. (starting March 21, 2015).

“Production plans indicate that at least 60 million cubic meters of gas will be added to the daily production and this amount can even reach 90 million cubic meters,” said Manouchehr Taheri.

Iran sits on the world’s second largest conventional gas reserves after Russia. The bulk of the country’s gas reserves lie in South Pars gas field in Persian Gulf waters.

Back in January Iran announced that that it has been able to produce a total of 105 million cubic meters of sweet gas per day (mcm/d) from five prioritized projects in the country’s energy hub of South Pars from June 2013.

South Pars 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.

The gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

HA/HA

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