Minister of Petroleum Bijan Namdar Zangeneh and other senior officials travelled to Assaluyeh a day earlier.
Phase 12 development of South Pars is supplying more than 50 mcm/d of gas. Inauguration of this phase will allow the extraction of 3 bcf/d of sour and sweet gas. Furthermore, 120,000 b/d of condensate (more than 34 million barrels a year) and 750 tons of granulated solid sulfur will be produced from this phase. Therefore, Iran’s gas condensate production will grow more than 22% and its gas production more than 16% year-on-year.
If the gas recovered from South Pars is converted into other products to feed petrochemical industries, the earnings will be 10-fold higher. Coupled with revenues from South Pars oil layer, the real value of this national asset will become highly significant.
This gas reservoir is instrumental in boosting Iran’s national, regional and international status. Despite all sanctions and financial restrictions, Iran has managed to add around 100 mcm/d to its gas output from South Pars. Consequently, Iran’s gross national product will grow remarkably and that would be a big achievement for Iran’s economy.
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