Official: Iran to Take Upper Hand to Qatar in Gas Extraction From South pars
TEHRAN ,Aug 23, (FNA)- Managing Director of Pars Oil and Gas Company (POGC) Ali Akbar Shabanpour announced on Tuesday that Iran is doing its best to overtake Qatar in extraction of gas from the shared South Pars gas field.
"Our company is endeavoring to raise output from the joint gas field with Qatar by pumping 530 million cubic meters daily from next spring (March 2017)," Shabanpour said.
He pointed to coming to stream of five new phases of South Pars gas field, and said, "Iran's gas production output from the joint field with Qatar will increase by 100 cubic meters in the near future."
Shabanpour noted that Iran's current gas output from South Pars gas field stands at 430 million cubic meters per day, and said, "To develop the gas field $55 billion has been spent and the company needs an extra $11 billion of investment for the completion of remaining phases of the field."
Earlier in August, Shabanpour said that his company has focused on the development of the remaining projects at the supergiant South Pars Gas Field.
He said that POGC specializes in fulfillment of the remaining projects at South Pars gas field based on the latest international standards.
"South Pars is a national treasury and belongs to all generations and it is on us to preserve this treasury for the people," he said.