Gulf Oil and Gas accountACCOUNT

Iran Says South Pars Output to Rise Over 2 Years

Source: Reuters 5/2/2010, Location: Asia

Share |
Gas production at Iran's giant offshore natural gas field South Pars will rise to 175 million cubic metres per day within the next two years, an energy official was quoted as saying.

Iran has the second biggest gas reserves in the world after Russia, but sanctions over its nuclear energy programme and other factors have slowed its development as a major exporter. It is unable to access the technology it needs to build LNG facilities.

"By the end of Iranian year 1391 (in the next two years) South Pars gas production capacity will increase to 175 million cubic meter per day," Ali Vakili, managing director of the Pars Oil and Gas Company (POGC), told the semi-official Mehr news agency."

Vakili did not say how much of an increase this represents. Production at the field rose by nearly 30 percent during the 2009-10 year, Iran's state Press TV reported last month, to around 59 billion cubic metres of processed gas for the full year, or around 162 million cubic metres per day.

"For developing South Pars we reached the conclusion that we should not wait for foreign companies because at the moment the capability to develop through domestic companies exists," Vakili said.

Vakili said on April 26 that Royal Dutch Shell and Repsol had one week to decide on their involvement in the natural gas field.

Iran says both Anglo-Dutch Shell and Spain's Repsol have procrastinated on finalising their involvement in the field, the world's largest reservoir of gas. It has set similar deadlines in the past as a way of pressuring foreign investors.

The offshore South Pars field contains about half of the estimated 28 trillion cubic metres of the country's gas reserves.

South Pars is on the Iranian side of the world's largest known gas reservoir not associated with oil production. Qatar holds the southern section of the field, where it is known as the North Field. Qatar has developed its side of the field to become the world's largest exporter of liquefied natural gas (LNG).

Subsea Production News in Iran >>

Indonesia >>  2/2/2016 - Total has signed long-term liquefied natural gas (LNG) sale and purchase agreements with state-owned Indonesian company Pertamina for the supply of LN...
China >>  1/31/2016 - In China, November oil demand declined by around 0.15 mb/d, despite solid growth in gasoline and LPG. Oil demand was predominantly characterized by le...

India >>  1/30/2016 - The RBI kept the repo rate on hold at 6.75% at its December meeting. However, the policy statement was more aggressive than expected, with the bank re...
Russia >>  1/30/2016 - The economy shrank 4.15% y-o-y in the 3Q15. This was in line with preliminary estimates, following a 4.65% drop in the previous quarter, final figures...

Japan >>  1/28/2016 - Japanese oil demand decreased sharply in November by 0.23 mb/d, a decrease of more than 6% y-o-y, with all main petroleum product categories declining...
Iran >>  1/26/2016 - Saipem has entered into a Memorandum of Understanding (MoU) concerning potential cooperation on major pipeline projects in Iran. ...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 |

Oil & Gas Projects in Iran >>

More News

 

Oil & Gas Companies in Iran >>


Related Links

AZ BD BN CN GE HK ID IN IR JP KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Privacy Policy.