Azerbaijan, Baku, Aug.12/ Trend F.Karimov/
Iran has increased production at phases four and five of the South Pars gas field by 35 million cubic feet, about one million cubic meters per day, IRNA quoted Pars Oil and Gas Company's managing director Mohammadreza Zohairi as saying. The production boost operations started in March, he added.
Iran is currently producing 300 million cubic meters per day of gas from South Pars. Iranian Oil minister Rostam Qasemi said on August 2 that the gas field's development plan will be completed in two years.
"Once all the phases come on stream, Iran's share of gas extraction will equal that of Qatar," he said. "Currently the development plans of 17 phases are underway."
South Pars is part of a wider gas field that Iran shares with Qatar. The larger field covers an area of 9700 square kilometres, 3700 square kilometres of which are in Iran's territorial waters (South Pars) in the Persian Gulf. The remaining 6000 square kilometres referred to as the North Dome, are in Qatar's territorial waters.
The Iranian gas field contains 14 trillion cubic meters of natural gas, about eight per cent of the world's reserves and more than 18 billion barrels of LNG resources.