Iran sets target for South Pars

Iran plans to invest $60 billion in upstream projects related to the South Pars gas field development in the Persian Gulf.

Offshore staff

ASSALUYEH, Iran -- Iran plans to invest $60 billion in upstream projects related to the South Pars gas field development in the Persian Gulf.

Petroleum Minister Dr. Seyyed Masoud Mirkazemi said that the government now plans a total of 29 phases for the project. Ten have been launched, while the remaining phases will come onstream between now and 2015, in line with Iran’s fifth Five-Year Development Plan.

“Currently gas produced from the South Pars gas field is sweetened in eight phases that amounts to 200 to 210 MMcm/d (7 to 7.4 bcf/d),” Mirkazemi said, adding that Iranian contractors are committed to constructing the remaining phases as quickly as possible.

03/30/2011

More in Field Development