TEHRAN -- The CEO of Pars Oil and Gas Company Muhammad Meshkinfam has said that gas production from South Pars has reached its peak.”
Meshkinfam said the field would face a drop in production as much as one phase of South Pars every year.
Addressing a meeting held in the presence of the CEO of the National Iranian Oil Company and a group of members of the Planning, Budget and Accounts Committee of the Islamic Consultative Assembly in South Pars Special Economic Zone, Meshkinfam outlined the measures taken in South Pars, and said the area of this joint field in the Iranian part is about 3,700 square kilometers.
He stated that the amount of in-place gas reserves in the Iranian section of the field is 410 trillion cubic feet, and said South Pars has 8% of the world’s gas reserves and 50% of Iran’s gas reserves, and currently 70% of the country’s gas consumption is supplied from this field.
700 million cubic meters per day (mcm/d) of gas is produced from South Pars, while 252 mcm/d is produced from other fields and 70 mcm from is produced in the form of associated petroleum gas (APG) which means South Pars enjoys a 70% contribution in the country’s total gas production mix.
He further said that the cumulative rich gas recovery from the field has reached 1,994 bcm since the beginning of production from the field, and said the value of South Pars products in this period is estimated at $359 billion.