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Iran`s South Pars gas reserve is equal to 155.992 tons of gold or the revenue gained throughout 120 years of oil production. the head of the gas field said on Tuesday.
`South Pars gas reserve in an area of 3.700 square kilometers has 14 trillion cubic meters of gas and 19 billion barrels of gas condensates.` Managing Director of the South Pars Gas Complex Massoud hassani said.
`The amount forms 8 percent of the world reserves. and 50 percent of the gas reserves in Iran.` he added.
Currently. the capacity of gas production of the South Pars Gas Complex is equal to 2.243 millions of barrels of oil a day. The amount of production will increase to 5 million barrels a day after the development of the complex is complete.
`The amount of production turns significant if you know that the British Petroleum`s production of natural gas. crude oil. condensates and NGL was equal to 3.822 million barrels of oil in 2010. and the amount has declined to 3.151 million barrels in 2014.` the official 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).
