BAKU, Azerbaijan, March 11. Iran's revenues from the South Pars gas field (North Dome in Qatar), which is a joint gas field with Qatar, will amount to $900 billion, Iran's Deputy Minister of Oil and Executive Director of the National Oil Company of Iran Mohsun Khojastmehr said, Trend reports.
He made the remark at the signing ceremony for the implementation of the national project to increase the pressure in the mentioned field.
Khojastmehr stated that the national effort to enhance pressure in the South Pars gas field will cost a total of $20 billion.
According to Khojastmehr, gas production from the South Pars gas field will increase by 90 trillion cubic feet (approximately 2.55 trillion cubic meters) and two billion barrels of gas condensate.
The deputy minister stated that there are 28 platforms in the South Pars gas field. These platforms are entirely comparable. By relying on local output, the national project of raising pressure may be implemented swiftly.
He stated that by boosting pressure in the field, each platform may produce one billion cubic feet (28.3 million cubic meters) of gas.
In order to prevent the flow of gas towards Qatar, it's a priority to increase the pressure on the platforms located on the border with Qatar, the official explained.
Besides, he said that within the framework of the contract to be signed today, it's planned to increase the pressure on 14 platforms in the South Pars gas field.
According to him, four compressors of 30 megawatts should be installed on each platform, and local production will be used in this direction.
To note, Iran has 28 phases of the South Pars gas field. The country has been producing in this field since 2002. Iran is currently producing a total of 700 million cubic meters of gas per day from these phases. It is estimated that the country has spent an estimated $90 billion on this field. About 33 percent of the gas that can be produced from the gas field belongs to Iran. Iran developed the fields on its side, whilst international corporations primarily developed the fields on Qatar's side.
The South Pars gas field is a joint Iran-Qatar gas field. It is reported that this field has 51 trillion cubic meters (tcm) of gas reserves, of which 36 tcm of gas can be produced. Iran's share in this field is 14 tcm of gas and 18 billion barrels of gas condensate.
---
Follow the author on X (Twitter):@BaghishovElnur
