All of the incomplete phases of the South Pars gas field will be completed within the next three and a half years, Bijan Namdar Zanganeh said in Iran’s southern province of Bushehr on Thursday.
He noted that completion of 17 remaining phases of the giant gas field, which are now under construction, will earn Iran $50 billion a year in revenue.
The gas filed is now supplying more than 300 mcm per day of gas to the country’s distribution network, Zanganeh explained.
South Pars gas field is one of the largest independent gas reservoirs in the world lying on the territorial border between Iran and the Persian Gulf State of Qatar. It is one of the country's main energy resources.
This gas field covers an area of 9700 square kilometers, of which 3700 square kilometers belongs to Iran.
The Iranian portion is estimated to contain some 14 TCM of gas reserves and some 18 bn bl of gas condensates.
This amounts to roughly 7.5 % of the world gas reserves and approximately half of the Iran’s gas reserves.