"We are diligently advancing preliminary studies for the South Pars pressure boosting project, and I expect to announce promising updates regarding the finalization of certain contracts before the year's end," Minister Mohsen Paknejad stated on Saturday.
The South Pars gas reservoir, a critical energy source for Iran, is experiencing pressure declines, raising alarms across the energy sector. Experts have repeatedly warned about the potential consequences, with the Parliament’s Research Center highlighting the deteriorating gas balance in the country.
In a recent report, the center projected that by 2041, daily gas production in Iran might reach 898.7 million cubic meters, significantly falling short of the anticipated demand of 1,410.8 million cubic meters. This shortfall of 512 million cubic meters per day could lead to severe challenges in meeting energy needs, especially during the winter months.
"The declining pressure in South Pars is a pressing concern for both the oil industry and the country at large,” the oil minister said, calling for immediate action to be taken to address this issue.
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