TEHRAN- The daily production of gas in Iran’s South Pars gas field has reached 700 million cubic meters (mcm), the managing director of Pars Oil and Gas Company (POGC), which is in charge of developing the field, announced.

Mentioning the 94-percent realization of the company’s development plans for the previous Iranian calendar year (ended on March 19) Mohammad Meshkinfam said: “Of the total 39 offshore platforms of the South Pars development project, 37 have gone operational while 12 of the complex’s total onshore refineries are also currently operating.”

As reported by ILNA, Meshkinfam underlined that although the development part of the project is nearly completed, the more important part which is maintaining the production level has just begun, saying, “Currently, a large part of the country's energy is supplied from this joint field, so we have a big responsibility.”

The official stated that his company plans to develop other reserves and boost the recovery factor of the currently active wells in the South Pars field, to continue to supply 75 percent of the country's gas needs from this field in the next 25 years.

“Currently, 40 percent of the country's gasoline production feed is supplied from this joint field,” Meshkinfam said.

He further emphasized that all the stages of the implementation of the South Pars development project and also the maintenance operation have been carried out by local experts and engineers, and POGC plans to continue to develop the country’s oil and gas industries by relying on the domestic capabilities and capacities.

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

EF/MA