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Iran Plans to Develop South Pars Gas Production

NATURAL GAS

Iran has release plans to increase production from the offshore South Pars gas field in the Persian Gulf according to the Shana news agency.

  • Iran has awarded domestic companies $20bn of contracts for the development of infrastructure for increasing production from the giant field.
  • The aim of the projects is to add 90tcf of gas and 2bn barrels of gas condensate from the field. No timeline for been provided for reaching the output targets.
  • The field holds an estimated 1,800tcf of natural gas and 50bn barrels of natural gas condensates according to the IEA.
  • The contracts will be part funded from the country’s sovereign wealth fund and oil export revenues, according to IRNA.
  • The ownership of the offshore field is shared between Iran and Qatar and is known as the North Dome on Qatar’s side.
Energy BulletsCommodities
Energy BulletsCommodities

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