Baku, Azerbaijan, Oct. 17
By Emil Ilgar – Trend:
Iran plans to sign two contracts on development of the giant South Pars gas field by the end of the current fiscal year (March 20, 2017), Mehr quoted Oil Minister Bijan Namdar Zanganeh as saying Oct. 17.
Currently, Iran produces about 450 million cubic meters per day (mcm/d) of gas from the field, but the volume is expected to reach 535 mcm/d by commencing five new phases – 17, 18, 19, 20 and 21 – by the end of the current fiscal year.
Zanganeh added that the contracts on development of the Phase 11 and the oil layer of South Pars will be signed by March 2017.
Iran plans to increase gas output from the field to above 700 mcm/d by 2021.
Last year, Iran produced about 730 mcm/d of gas, including the flared and re-injected volume.
Zanganeh also said the country’s gas output will reach 900 mcm/d by March 2017 and 1,000 mcm/d by March 2018.
