Tehran, PIN, 01/05/2010

TEHRAN (Shana): Managing director of the Pars Oil and Gas Company (POGC) Ali Vakili says the company plans to extract 90 billion cubic meters of gas from South Pars gas field in the Persian Gulf this Iranian year 1389 that ends on 20 March 2011.

In an exclusive interview with Shana, Dr. Ali Vakili announced here on Friday that POGC is committed to extract 265 million cubic meters of gas per day from the giant South Pars gas field during the current year.

He pointed out that average daily production of gas from the field has been 200 million cubic meters up to now this year and is slated to rise to 265 million cubic meters a day. 

Noting that gas production from South Pars gas field increased 26 percent in the last Iranian year, 1388 (ended on 20 March 2010) in comparison with a year earlier, Dr. Vakili said: total gas production from the operating platforms of South Pars gas field during the last year, 1388 (21 March 2009 – 20 March 2010), amounted to 68.12 billion cubic meters.

Elsewhere in his remarks, Mr. Vakili noted that by starting production from all the defined phases, final production from the field would stand at 650 million cubic meters per day.

South Pars is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar.

This gas field covers an area of 9700 square kilometers, of which 3700 square kilometers (South Pars) is in Iranian territorial waters and 6000 square kilometers (North Dome) is in Qatari territorial waters.

In-place volumes of the field are estimated to be around 1800 tcf (51 tcm) gas in place and some 50 billion barrels of condensate in place. With in place volumes equivalent to 360 billion barrels of oil (310 billion barrel of oil equivalent (boe) of gas and 50 billion bbl of condensate) the field is the world’s biggest conventional hydrocarbon accumulation even bigger than Ghawar oil field, which has 170 billion barrels of original oil in place.