Four Gas Reserves to Earn Iran $101b Annually

TEHRAN (FNA) The National Iranian Tanker Company (NITC) Managing Director Mohammad Suri said the value of products the four gas reserves of South Pars, North Pars, Golashan, and Ferdows produced a year would amount to 101 billion dollars.

He made the statement in the 2nd International Conference on Challenges & Opportunities of Iranian Companies in Oil & Gas Contracts, PIN said.

The NITC chief said the offshore development plans were implemented in South Pars, North Pars, Golashan, and Ferdows gas fields.

“South Pars field is developed in 24 phases and each phase has an about 25 million cubic meter of gas production capacity and the ratio of liquefied gas to natural gas stands at 1:600,” said the official.

According to him, the 24 phases of South Pars field would yield 182.5 million tons of liquefied gas per annum.

“If each ton of liquefied gas costs 300 dollars, Iran will earn over 57 billion dollars yearly,” he predicted.

Suri added that the gas field would produce 48 million tons of gas condensates per year.

He said each phase of the SP field would produce 200 tons of sulfur, adding the total production of 24 phases would exceed 1.752 million tons.

Shifting to the value of LPG the SP field would produce, the NITC managing director forecast that the 24 phases would fetch the country over 83 billion dollars.

Suri said North Pars, Golashan, and Ferdows gas fields would totally produce 40 million tons of gas annually.

“According to the prediction, the four fields have the capacity to produce for 61 years, earning the country 6.213 trillion dollars,” he added.

The official concluded that the country could earn as much as oil revenue through selling gas in the upcoming years.

The two-day 2nd International Conference on Challenges & Opportunities of Iranian Companies in Oil & Gas Contracts ended here Sunday.