TEHRAN- The acting managing director of Pars Oil and Gas Company (POGC), which is in charge of developing South Pars, Iran’s giant gas field in the Persian Gulf, put the amount of investment made in four complementary projects in South Pars at €712 million.

Mohammad-Hossein Motejalli made the remarks on Monday in a ceremony to inaugurate three projects and launch one project of the Oil Ministry in Assaluyeh, in southwestern Bushehr province, the Public Relations Department of POGC reported.

The inaugural ceremony was participated by Oil Minister Javad Oji and his deputies.

The first combined-cycle unit of Be’sat Power Plant with investment making of €454 million, unit of Demercaptanization of gas condensate of South Pars phases 2 and 3 refinery with €74 million of investment, and building the pipeline to transfer gas condensate of South Pars refineries with an investment of €19 million were the three inaugurated projects and subsea pipeline of South Pars phase 16 with the investment making of €165 million was the launched project, according to Motejalli.

South Pars gas field, which Iran shares with Qatar in the Persian Gulf water, is divided into 24 standard phases of development in the first stage. Most of the phases are fully operational at the moment.

The huge offshore field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, called North Dome, are situated in Qatar’s territorial waters.

The field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.

MA/MA