TEHRAN- The last platform of the phase 19 of Iran’s South Pars gas field (in the Persian Gulf) was installed on its designated offshore spot on Sunday morning, Pars Oil and Gas Company (POGC), which is in charge of developing the gas field, announced.

The 5,000-ton structure has the production capacity of 14.2 million cubic meters of gas per day and will be put into operation in the next Iranian calendar year’s second month of Ordibehesht (April 21-May 21, 2017).

Hamidreza Masoudi, the operator of South Pars phase 19 of development, put the cost of building this platform at $150 million.

He also said that while less than a year has passed since starting production in phase 19 on Ordibehesht month of this year (April 20-May 20, 2016) over 5 billion cubic meters of gas and 7.2 million barrels of gas condensate have been produced in this phase which brought $1.4 billion of income for the country.

South Pars gas 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.

MA/MG