TEHRAN- Iran produced 192.5 billion cubic meters (bcm) of natural gas in 2015, up 5.7 percent from 182 bcm in 2014, British Petroleum reported in its June 2016 Statistical Review of World Energy.

Natural gas output in Iran also witnessed rise in 2014 from 166.8 bcm in 2013, according to the BP’s report.

Meanwhile, the country maintained its rank as the third natural gas producer in the world after the U.S. and Russia for the second consecutive year.

Iran, which sits on the world’s largest gas reserves, intends to enhance gas production by increasing foreign and domestic investment, especially in its South Pars gas field.   

South Pars field, which Iran shares with Qatar in the Persian Gulf, 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.

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 are situated in Qatar’s territorial waters. 

MA