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Pars Oil & Gas Company announces Iran enhances South Pars gas production by 20%

Monday, Feb 18, 2013

The head of Pars Oil and Gas Company (POGC) says Iran has increased the production capacity of the giant offshore South Pars gas field by 20 percent over the past two Persian calendar years (since March 2011).

Mohammadreza Zahiri said on Saturday that the POGC has also increased the number of drilling rigs in the South Pars gas field from nine to 15 over the past year.

Zahiri went on to say that the POGC has particularly focused its development activities in phases 11, 12, 17, 18 and 19 of South Pars.

The Iranian official pointed out that currently “18 types of drilling services” are being provided by Iranian companies, eliminating Iran’s need to foreign companies.

Covering an area of 3,700 square kilometers, Iran’s South Pars, which is part of a larger gas field shared with Qatar, is divided into 24 phases and holds about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to up its gas production by increasing foreign and domestic investments, especially in South Pars gas field.

Source: Pars Oil & Gas Company

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