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IRAN Energy News Agency
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

South Pars Exports over 4m Barrels of Oil in 8 Months

Iran has been ramping up crude oil production to win back its market share since sanctions were lifted in January 2016 under a nuclear accord with P5+1.

Iran has exported about 4.26 million barrels of oil from South Pars since March 21, said the manager for development of oil layers at South Pars.

Fardin Asadi told ISNA on Sunday that South Pars is the world's largest gas field which also has significant oil reserves and approximately 25,000 barrels of oil are extracted from the field daily.

South Pars exported gas condensate valued at about $6.9 billion which shows a 28-percent increase compared to the figure for the same period last year, a customs official told state media in August.

Oil Minister Bijan Namdar Zanganeh said earlier that a series of development projects in South Pars, implemented with an investment of $20 billion, will become operational by next March.

South Pars field in the Persian Gulf contains some 14 trillion cubic meters of gas, which accounts for eight percent of the world's known reserves. It is divided into 24 phases on the Iranian side for development.

According to the minister, Phases 17, 18, 19, 20 and 21 are among the projects which are due to come on stream.

Iran has been ramping up crude oil production to win back its market share since sanctions were lifted in January 2016 under a nuclear accord with P5+1.

 

   

 

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Parvin Faghfouri Azar
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Iran

South Pars Exports over 4m Barrels of Oil in 8 Months

Iran has been ramping up crude oil production to win back its market share since sanctions were lifted in January 2016 under a nuclear accord with P5+1.
Parvin Faghfouri Azar
Iran has exported about 4.26 million barrels of oil from South Pars since March 21, said the manager for development of oil layers at South Pars.Fardin Asadi told ISNA on Sunday that South Pars is the world's largest gas field which also has significant oil reserves and approximately 25,000 barrels of oil are extracted from the field daily.South Pars exported gas condensate valued at about $6.9 billion which shows a 28-percent increase compared to the figure for the same period last year, a customs official told state media in August.Oil Minister Bijan Namdar Zanganeh said earlier that a series of development projects in South Pars, implemented with an investment of $20 billion, will become operational by next March.South Pars field in the Persian Gulf contains some 14 trillion cubic meters of gas, which accounts for eight percent of the world's known reserves. It is divided into 24 phases on the Iranian side for development.According to the minister, Phases 17, 18, 19, 20 and 21 are among the projects which are due to come on stream.Iran has been ramping up crude oil production to win back its market share since sanctions were lifted in January 2016 under a nuclear accord with P5+1.     
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