Dec 18, 2017, 8:48 PM
News Code: 82768195
0 Persons
Total back on right track in S. Pars phase 11

Tehran, Dec 18, IRNA – The French Total Company is now on the right track in South Pars Oil and Gas Field phase 11, the director general of Pars Oil and Gas Company (P.O.G.C) said.

“70% of Iran’s gas is produced in South Pars field,” Mohammad Meshkin Fam told Islamic Republic News Agency (IRNA) on Monday.

“Investment in South Pars is predicted to reach $87 billion,” he said, adding that $72 billion has been saved in SP reservoir in 20 years.

“The first row of the phases 22-24 will be operational in February 11, 2018,” he said.

Commenting on the recent claim that Chinese Company CNPC will be replaced by Total in South Pars, he said based on the agreement if Total tends to quit the deal, it will bring no harm to it.

“South Pars now produces over 550 million cubic meter per day which is supposed to reach 700 mcm after finalizing all phases,” Meshkin Fam said.

The South Pars gas field is one of the biggest gas fields in the world that lies on Iran's shared border with Qatar. It is expected that all the phases of the field will have been completed by the end of the next Persian year (March 21, 2019).


Follow us on Twitter @IrnaEnglish