Iran to Up Gas Output After Launch of New South Pars Platform

Iran announces plans to increase its natural gas output by one bn cubic feet (bcf) of gas per day after the inauguration of a new gas platform in the South Pars gas field.

Manager of the marine section of the phases 6, 7 and 8 of the giant gas filed Karim Hasanzadeh said the platform would be inaugurated in the first week of October.

He added that the natural gas exploited from the phases would be injected into the Aqajari oil filed via a 504-kilometer pipeline to boost its oil output.

Gas injection is a reservoir maintenance or secondary recovery method that uses injected gas to supplement the pressure in an oil field.

Hasanzadeh said Iran had invested $5 billion in phases 6, 7 and 8 to earn $35 million per day for the country.

The South Pars gas field is jointly owned by Iran and Qatar. The Iranian share of the field has reserves of about 46.2 trillion cubic feet (14 trillion cu.m.) of gas -- consisting of about eight percent of the total world reserves.

Iran has the second largest gas reserves in the world after Russia and the second largest petroleum reserves in the world after Saudi Arabia.

BBC Monitoring. Copyright BBC.