Iran sets target for remaining South Pars phases

Iran expects all remaining phases of the South Pars gas field in the Persian Gulf to come onstream in the next four years, according to a report by Iranian news service Shana.

Offshore staff

TEHRAN -- Iran expects all remaining phases of the South Pars gas field in the Persian Gulf to come onstream in the next four years, according to a report by Iranian news service Shana.

Ahmad Qalebani, managing director of National Iranian Oil Co., told Shana the new phases would push annual revenue from the field in the next five years to $250 billion.

By March 20 (the end of the current Iranian year), phases still under development would absorb $12 billion in investment, he added. He claimed all the remaining phases would come on line during the Iranian year starting March 21, 2014.

01/18/2011

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