BAKU, Azerbaijan, February 2. Production at the South Pars gas field (known as North Dome in Qatar), a joint field shared by Iran and Qatar, is expected to decrease by 28 million cubic meters per day starting in 2028, Trend reports.
According to Dehgan, a further reduction of 42 million cubic meters per day is anticipated by 2030, reflecting a natural decline in reservoir pressure. He warned that without timely interventions to manage this pressure reduction, the country could face serious negative consequences for both its economy and energy security.
To address this issue, a $400 million memorandum of understanding (MoU) was signed during the last Iranian year (March 21, 2023 – March 19, 2024) to enhance pressure at the South Pars gas field.
In the coming days, contracts worth $17 billion are expected to be signed for the field’s pressure enhancement. As part of these efforts, discussions with the National Development Fund have secured $15 billion in funding. A formal agreement on this funding is in the final stages of preparation and will soon be signed.
The first booster plant, designed to help manage field pressure, is projected to be operational by 2029. The main contractors for the project include Iran's Petropars, Oil Industry Engineering and Construction Company (OIEC), Mapna, and the Khatamul-Anbiya Construction Headquarters, all of whom have extensive experience developing the South Pars gas field.
The South Pars field is considered one of the largest gas fields in the world, with reserves estimated at 51 trillion cubic meters of gas, of which 36 trillion cubic meters are recoverable. Iran’s share includes 14 trillion cubic meters of gas and 18 billion barrels of gas condensate.
Since 2002, Iran has been producing gas from the field, with current production at around 700 million cubic meters per day. It is estimated that Iran has spent $90 billion on developing the field. Approximately 33% of the field’s recoverable gas belongs to Iran, with development on the Iranian side managed by Iranian companies, while the Qatari side has seen mainly foreign involvement.
