“The most prioritized industrial project...is development of and recovery from joint oil and gas fields,” Reza Rahmani said.
He singled out the giant South Pars gas field shared with Qatar and said: “South Pars gas field is our national wealth and interest. Should we neglect recovery, others will leave us behind and they will benefit from this recovery against us.”
Rahmani called on Petroleum Ministry to focus further on recovery from joint oil and gas fields.
South Pars 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.
The gas 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.
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