Iran's President Hassan Rouhani indicated Monday that the development of the South Pars oil and gas fields -- located on the country's border with Qatar in the Persian Gulf -- is expected to be come online by early the end of first quarter of 2018, Pars Oil and Gas Company (POGC) said in a press release.
Rouhani revealed the timeline for the South Pars oil and gas project, which will be developed in 24 phases, in a ceremony held to inaugurate two new phases -- 15 and 16 -- of the South Pars Energy Zone in Assalouyeh.
The Iranian President further added that South Pars Phases 17 and 18 are scheduled to become operational by March 2017.
"Putting into operation of South Pars phases 15 and 16 proved that the arbitrary sanctions can not weaken Iranian nation's desire for progress," POGC quoted Rouhani as saying.
South Pars Phases 15 and 16 development are targeted to produce 1.99 MMcf (56.5 Mcm) of natural gas, 75,000 barrels of condensates, 400 tons of sulfur, 1.05 million tons of liquid petroleum gas (LPG) and 1 million tons of ethane yearly, Shana -- the information network supported by Iran's Ministry of Petroleum -- reported Monday.
POGC reported that Iran's Minister of Petroleum Bijan Zangeneh had disclosed separately on Monday that development of all phases of the South Pars Gas Field, except for a section of phase 14, would be completed entirely within the next 2 years, should adequate funds be channeled into the projects.
“Development of phases 17 and 18 is also near completion. The phases have even started gas production. They are expected to become operational in March or April 2016,” Zangeneh commented.
Gas refineries of the various South Pars phases have helped increased Iran’s processing capacity by 6.36 million cubic feet (MMcf), or 180 million cubic meters (Mcm).
POGC noted that Zaganeh has stated that over the last 30 months, around 5.29 MMcf (150 Mcm) of gas were extracted from the South Pars gas field’s six phases, which has helped to reduce consumption of liquid fuels by domestic power plants.
South Pars, which are being developed by a consortium of Iranian companies, is currently supplying around 55 percent of the country's daily gas consumption of 15.18 MMcf (430 Mcm), figures cited the Shana report showed.
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