Saturday, April 13, 2024

South Pars CEO: investments in gas field close to $80bn.

The CEO of South Pars Gas Complex Company says investments made in South Pars are close to $80 billion. Hadi Hashemzadeh Farhang said all the investments, done amid US sanctions, have been turned into assets for the National Iranian Gas Company and the necessary resources have been provided for the proper maintenance of these facilities.

Hashemzadeh Farhang noted that the daily production of 560 million cubic meters of natural gas, 21,000 tons of liquefied natural gas, 760,000 barrels of gas condensate and 15,400 tons of ethane is the current capacity of Pars Complex.

Hashemzadeh Farhang said that South Pars is a common field with Qatar. According to him Qataris started exploiting this reservoir four years earlier than Iran in 1998. Qatar produced a maximum of 175.7 billion cubic meters in 2020, but Iran overtook the country in 2018, and from 2020, the Islamic Republic set a record by producing 202.3 billion cubic meters of gas from South Pars. 

He added that the share of gas in Iran’s fossil energy basket is 73.7%, of which 50% is allocated to the South Pars complex. 

Hashemzadeh Farhang however pointed out that the average share of natural gas in the energy basket of countries is 23%, but Iran is 71% dependent on gas. 

He added that currently, 17,000 people work in the South Pars Gas Complex.

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