Masoud Hassani said the size of condensate reserves at the supergiant South Pars gas field are enough for the company to recover the same amount of condensate for the next 240 years.
He said the gas field contributes 54% of the country's gas needs with a gas output that is equal to 2.1m barrels/day of crude oil. The contribution is expected to reach 70% by March 2018.
This is while British Petroleum (BP) produces only 2.5mb/d of crude oil by operating in 26 countries, said Hassani.
The official also underlined the variety of products recovered from South Pars. Besides natural gas, propane, butane, ethane, sulfur and gas condensate are recovered from the field.
Revenues from the giant offshore South Pars gas field reach $56 billion in 2014.
The revenues were made from the production of 270 mcm/d of gas, 400,000 b/d of gas condensate, 8,000 tons of liquefied petroleum gas, 1,000 tons of sulfur and 5,200 tons of ethane.
The figure would reach $167 billion by March 2018 when the number of refineries would have reached 14.
Gas production from SPGC would soar to 430 mcm/d and to 750 mcm/d by March 2018, Hassani said recently.
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