TEHRAN- Development phases of Iran’s South Pars gas field (in the Persian Gulf) will be completed within one and half years, according to Mohammad Meshkinfam, the managing director of Pars Oil and Gas Company (POGC), which is in charge of developing the field.

Meshkinfam said 85 percent of the phases are complete so far and implementation of the rest 15 percent will be finished by the next 1.5 years, Shana news agency reported.

South Pars, which Iran shared 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 field is divided into 24 standard phases of development in the first stage. Most of the phases are fully operational at the moment.

Completing development phases of South Pars is among the Oil Ministry’s priorities outlined by President Hassan Rouhani in a decree in mid September.
 
MA