TEHRAN: Iranian President Ebrahim Raisi officially inaugurated the last phase of the South Pars gas field on Monday, marking a significant milestone for the country’s energy sector. The South Pars gas field is one of the largest natural gas condensate fields globally and holds substantial importance for Iran’s energy production.
The South Pars gas field is jointly shared by Iran and energy giant Qatar. The Iranian side of the gas field features 24 platforms and has been under development in the region since the 1990s. In the inauguration ceremony held in the southern port city of Asalouyeh, Oil Minister Javad Owji highlighted that phase 11 of the project is expected to yield around 50 million cubic meters of gas daily upon the completion of well operations.
Completion of Pars Gas Field
President Raisi took the opportunity to express dissatisfaction with foreign companies, including France’s Total, for failing to fulfill their obligations in completing the 11th phase of the South Pars project. He noted that Iranian experts were left to undertake the work. The initial development of phase 11 involved a consortium, and an Iranian firm, with a contract valued at $4.8 billion in 2017.
Iran boasts the world’s second-largest gas reserves, trailing only behind Russia, and is recognized for holding the fourth-largest oil reserves globally. The successful inauguration of the final phase of the South Pars gas field aligns with Iran’s endeavors to harness its energy potential and contribute to its economic development.
