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MEOG NEWS IN BRIEF MEOG

GAS decline in production and maintaining the Elsewhere in the inauguration ceremony,
current output level requires $25-$30 billion POGC head Mohammad Meshkinfam
Major projects inaugurated of investment. pointed to the huge amount of investment
made in the South Pars gas field over the past
“The most important thing that needs to
in South Pars be done in South Pars from now on, and we eight years and said: “Over the past eight
years, about $25 billion has been invested in
prepared its outline in the form of a document
With the completion of all 37 offshore and submitted it to the future government, is the development of the remaining phases of
platforms of Iran’s giant South Pars gas field, to prevent the pressure drop and to maintain the South Pars development project, of which
which the country shares with Qatar in the the current production levels; in this regard, more than $10 billion has been related to
Persian Gulf, the offshore sector of the field we need 25 to 30 billion dollars of investment, offshore facilities.”
was officially inaugurated by President Hassan part of which has already been attracted, for “Currently, gas production from the South
Rouhani on Sunday. example, a contract has been signed with Pars gas field has reached 700 million cubic
According to Pars Oil and Gas Company OTC [Oil Turbo Compressor Construction meters per day, which is 2.5 times more than
(POGC)’s office of public relations, held Company] to build suitable compressors to the daily production in the [Iranian calendar
in southwestern Bushehr Province, the increase pressure at sea and on land.” year] 1392 (started in March 2013) in which
inauguration ceremony was attended He mentioned South Pars as the most the figure was 280 million cubic meters,” he
by senior officials including Iranian Oil important national development plan of said.
Minister Bijan Namdar Zanganeh and POGC Iran in the last 100 years and said: “The first The huge South Pars field covers an area of
Managing Director Mohammad Meshkinfam. contract for the development of the South 9,700 square km, 3,700 square km of which
As reported, for the development of the Pars gas field was signed in September 1997 are in Iran’s territorial waters. The remaining
South Pars gas field which is currently divided and by mid-2005, 10 phases of South Pars had 6,000 square km, called North Dome, are
into 27 phases, 37 offshore platforms were been put into operation.” situated in Qatar’s territorial waters.
constructed, installed, and went operational Zanganeh further underlined the The field is estimated to contain a
and these platforms are connected to onshore significant increase in the production from significant amount of natural gas, accounting
refineries through 3,200 km of 32-inch seabed the giant gas field, saying: “With the increase for about eight percent of the world’s reserves,
pipelines. of gas production from the South Pars joint and approximately 18 billion barrels of
Maintaining SP production level should be field and other gas fields, we reached the condensate.
next government’s priority daily production record of one billion cubic The development of the South Pars field
Speaking at the inauguration ceremony, meters.” started in 1998 and 29 different phases were
Zanganeh pointed to the significance of The minister also referred to the measures defined for the project along with a separate
the work that has been done on the South taken for the future development of South oil block. The field, however, is currently
Pars gas field in recent years and noted that Pars and stated that this year 40 million cubic divided into 27 standard offshore phases,
maintaining the current production level of meters of new capacity will be added to the the output of which is processed by 14 gas
the field should be the priority of the next field’s total output. refineries on land.
government. Over $25b invested for SP development in TEHRAN TIMES
The official noted that preventing the 8 years

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