BAKU, Azerbaijan, Jan. 27
By Elnur Baghishov – Trend:
The volume of rich gas extracted by Iran from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) has amounted to about 2 trillion cubic meters since 2002, the Production Manager of Pars Oil and Gas Company (POGC), Alireza Ebadi said, Trend reports citing the POGC’s website.
The official noted that the total value of the extracted gas is $360 billion.
Ebadi also noted that the South Pars gas field accounts for 8 percent of the world's gas reserves and 50 percent of Iran's gas reserves.
"Iran has 19 blocks in the South Pars gas field. There are 2 or 3 phases in each block. In total, Iran has 29 phases in this field, with only 11th phase being inactive," he said.
In 2017, the project to develop the 11th phase of the South Pars gas field was entrusted to France's Total, China's CNPCI and Iran's Petropars. However, the foreign companies have refused to carry out operations at the 11th phase of the South Pars gas field as a result of US sanctions against Iran. As a result, the operations at this phase were fully entrusted to the Petropars Operation and Management Company (POMC).
Ebadi said the completion of each project on the South Pars gas field brings the country $10 million a day and $3.5 billion a year. Taking into account the cost of each project worth $5-6 billion, it is possible to return these funds within 2 years.
The South Pars gas field (called North Dome in Qatar) is a joint gas field of Iran and Qatar. The proven reserves of the South Pars Gas Field are estimated at 51 trillion cubic meters of gas, of which 36 trillion are extractable. Iran's share in the field is 14 trillion cubic meters of gas and 18 billion barrels of gas condensate.
The phases of the South Pars gas field are located in an area of 3.7 km. Iran has extracted more than 1.8 trillion cubic meters of gas and 2.2 billion barrels of gas condensate worth $335 billion by the end of last Iranian year (March 20, 2021).
---
Follow the author on Twitter:@BaghishovElnur
