Iran has reportedly revealed plans to launch four new phases at South Pars gas field, an offshore natural-gas condensate field located in the Persian Gulf.
According to Iran’s Mehr news agency, phases 13, 22, 23, and 24 are expected to become operational soon. No specific timeframes were provided for the launch.
A South Pars Phase 13 development project manager told Iranian news agency SHANA that a gas refinery is complete and ready to commence operations.
Iranian President Hassan Rouhani is scheduled to inaugurate the refinery, which has a production capacity of 56.6 million cubic metres per day (Mcm/d).
According to South Pars phase 13 project operator Payam Motamed, the development of the South Pars gas field’s Phase 13 has seen an investment of nearly $5bn.
Iran shares the offshore field with Qatar, which calls it North Field.
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In February Iranian oil minister Bijan Zanganeh told state television that gas production from Iran’s section field touched 610 million cubic metres daily, reported Reuters.
Iranian South Pars covers an area of 500 square miles. It is estimated to host nearly 10% of the world’s total gas reserves.
In December 2018, China National Petroleum (CNPC) suspended its investment in the South Pars natural gas project. The decision was reportedly taken following US threats to impose sanctions on companies engaged in businesses with Iran.
CNPC replaced Total in the project as the latter withdrew from the project due to similar concerns.
Iran’s oil and gas output has been affected for years due to UN sanctions. A National Iranian Oil (NIOC) manager told Reuters that there were 200 undeveloped oil and gas fields in the country.