TEHRAN- Development of South Pars gas field (in the Persian Gulf) in the second stage is estimated to require $20-30 billion fund,  Mohammad Meshkinfam, the managing director of Pars Oil and Gas Company (POGC), which is in charge of developing the gas field, told ILNA.

“It is our initial estimation of the required fund, but it depends on the type of planning and anyway we should take benefit of the foreign capabilities for the second stage”, he also noted.

He said: “We are also planning to improve domestic capabilities to become fully prepared for the implementation of the next development stage.”
South Pars 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, shared with Qatar, covers an area of 9,700 square kilometers, 3,700 square kilometers of which, called South Pars, 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/MG