PremiumIran’s gas production capacity to soar in mid-term

Baku, Azerbaijan, Apr.28

By Dalga Khatinoglu – Trend:

Iran’s gross oil production reached 285 billion cubic meters last fiscal year, ended March 20 and the officials says the output would reach 440 bcm/yr by 2020.

Homayoun Falakshahi, senior Iran analyst at Wood Mackenzie told Trend Apr.28 that in contrast with oil, Iran’s gas production capacity is to increase massively over the next five years, driven by the South Pars development”.

Iran increased actual output of South Pars gas fields, shared with Qatar, by 25 bcm to 155 bcm last fiscal year and plans to complete all of its 24 phases by 2020 to raise the production level to 260 bcm/yr.

Falakhashi says the sales gas (commercial gas) production could potentially reach 31 bcf/d (320 bcm/yr) by 2022 (including all South Pars Phases and Kish field).

Iran has developed all 24 phases of South Pars, excepting phase 11. Some of phases are active and others have being completed..

Iran’s sector of South Pars, divided into 24 phases:

Source: According to an official document, prepared by oil ministry and seen by Trend

Falakshahi said that “if you do not include South Pars 11 and Kish the number comes down to 28 bcf/d (290 bcm/yr), still an incredible increase. The numbers represent sales gas (gas currently re-injected is excluded but future production that may be re-injected is included).

* Wood Mackenzie’s estimation