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Iran expanding gas development and exploration

Iran is to launch four new phases at South Pars, the world’s largest gas field, with a production capacity of up to 110 million cubic meters per day, the oil ministry said on Twitter on Tuesday.

No additional information was provided on when the four new phases would be launched.

Oil Minister Bijan Zanganeh told state TV last month that Iran’s gas production at South Pars had hit 610 million cubic meters per day.

The offshore field is shared between Iran and Qatar, which calls it North Field,

Iran’s daily gas production from the field now exceeds that of Qatar, Zanganeh said last month.

France’s Total and China National Petroleum Corp (CNPC) suspended investment in the South Pars project last year after the United States threatened to impose sanctions on companies that do business in Iran.

The United States reimposed sanctions on Iran’s energy and banking sectors after Washington withdrew from the 2015 nuclear agreement between Tehran and world powers.

The agreement had imposed limits on Iran’s nuclear ambitions in exchange for sanctions relief.

Source: Reuters

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