South Pars Project – Profile

According to “Tehran Times”, each phase of the South Pars Project earns about 4 million dollars a day, so a one-day delay in operations at the gas field could mean the same amount of loss. Iranian oil officials say the giant field can be operated for a maximum of 30 years. With an area of more than 1300 square kilometers, South Pars is one of the world’s largest natural gas fields. Extraction operations at the first five phases of the project is underway, while work is reported to be 85% complete in the next three phases (6,7, and 8). The field’s total daily gas production now reaches 28 billion cubic feet. Estimates show that Iran has so far extracted a total of 92 billion cubic meters of gas from the field, while Qatar, which co-owns the field with Iran, has picked up 237 billion cubic meters.