Development of the phase was tasked to POGC in 2005 and the company handed over the completed project to NIGC on August 23, 2015, said Ali Akbar Shaban-pour.
Inauguration of Phase 12 development of the gas fieldwas done under the Rouhani administration early in 2015.
Phase 12 development of South Pars, which is jointly operated by Iran and Qatar, is forecast to earn the Islamic Republic $17.5 million a day in revenue from gas condensate sales.
Phase 12, operated by Pars Oil and Gas Company (POGC), was awarded in July 2005 to Petropars Limited under a buyback deal.
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