Iran surpasses Qatar in gas extraction from South Pars field
Date
9/15/2024 4:21:58 AM
(MENAFN) Iran has surpassed Qatar in gas extraction from the South Pars field, which is jointly shared between the two nations in the Persian Gulf, according to an official from Pars Oil and Gas Company (POGC). Alireza Rikhtehgar Dezfouli reported that Iran's daily gas production from this field is approximately 700 million cubic meters. He highlighted that South Pars provides 70 percent of the country's natural gas, 40 percent of the feedstock for gasoline production, and 64 percent of the fuel needed for electricity generation.
Rikhtehgar Dezfouli noted that much of the equipment and parts required for the maintenance and overhaul of the field's platforms are sourced from domestic manufacturers. Since the imposition of sanctions, there has been a strategic focus on developing the capabilities of domestic knowledge-based companies within the oil industry. This shift has been particularly evident in the major repairs undertaken for the South Pars platforms, marking one of the most extensive overhauls in the past two decades.
The South Pars gas field is a significant asset, estimated to hold around eight percent of the world's natural gas reserves and approximately 18 billion barrels of condensate. The field is divided into 24 standard phases, each contributing to its extensive production capacity. Its vast offshore expanse spans 9,700 square kilometers, with 3,700 square kilometers falling within Iranian territorial waters and the remaining 6,000 square kilometers, known as the North Dome, situated in Qatari waters.
This development underscores Iran's increasing dominance in the exploitation of South Pars and its ability to leverage domestic resources and expertise despite international sanctions. The ongoing investment in local technology and infrastructure continues to bolster Iran's position as a major player in the global energy sector.
MENAFN15092024000045015839ID1108674989
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.