Mehdi Yousefi said the gas field, under development in 29 phases, is currently producing 450 mcm/d of gas.

He said that 8% of the world’s proven gas reserves lies in South Pars which Iran and Qatar share in the Persian Gulf. He said the South Pars gas makes up half of Iran’s gas reserves.

In the last calendar year to March, Yousefi said, Iran boosted gas production from South Pars by 120 mcm/d.

The South Pars gas field is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar’s territorial waters.