Iran Begins Exporting Condensates from South Pars

Iran will be exporting the first consignment of condensate from phases two and three of its South gas field in the Persian Gulf to international markets beginning Monday, Asadulla Salehi-forouz, the managing director of Pars Oil and Gas Co. announced Saturday.

"Ever since the outset of exploitation from part one of phase two and three of the South Pars' development plan up to now, there have been around 590,000 barrels of condensate (liquid gas) produced," Salehi-forouz said in a statement. Production of condensate from the two phases of the gas field began last year in February.

Approximately half million barrels of condensate produced at this part of the gas field is now ready for export, he said adding that a 30,000-ton ship will be berthing at Assalouyeh port, in southern Iran, on Monday to load the consignment for export.

Iran is planning to develop its giant South Pars gas field in 25 phases of which phases 1 though 8 have been awarded to a consortium led by TotalFinaElf, along with Gazprom and Petronas.

The South Pars gas field is among the biggest of its kind in the world and is shared jointly by Iran and Qatar . The Iranian portion of the field, known as South Pars, contains some 350 trillion cubic feet of gas or about 40% of the total.