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Sunday, 29 November 2015 14:03

SPGC eyes 850mcm/d by 2018

SPGC eyes 850mcm/d by 2018

Managing Director of South Pars Gas Complex (SPGC) said plans are under way for recovery of 850 million cubic meters of gas by 2018.

 

Masoud Hassani said refineries of the complex are developing very rapidly, processing 57% of the country's gas output.

Speaking on the sidelines of a visit from the complex by a working group from the International Gas Union (IGU), Hassanit said SPGC has plans to boost its share in the country's gas output to 82% by offering 850 mcm/d by 2018.

He further said landmark projects have been defined by the complex for preserving the environment while boost its output.

Last year, the company produced as much as 470 thousand barrels of gas condensate per day from the giant South Pars gas field.

The average daily output of gas liquids production (propane and butane) and ethane from the company hit 8.5 thousand and 4 thousand tons respectively, last year.

IGU is a global association aimed at promoting the technical and economic progress of the gas industry. It was founded in 1931. It is registered in Vevey, Switzerland, and its secretariat is located in Oslo, Norway.

South Pars is part of a wider gas field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar's territorial waters.

The Iranian gas field contains 14 trillion cubic meters of natural gas, about 8 percent of the world's reserves, and more than 18 billion barrels of condensate resources.
EA

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