Before winter, the phase will be fully operational once three more wills are drilled at platform 12B of the phase to produce gas, Falahnejad said.
Phase 12 development of South Pars, which is jointly operated by Iran and Qatar, is forecast to earn the Islamic Republic $17.5 million a day in revenue from gas condensate sales.
South Pars, divided into 29 development phases, holds 40 tcm of natural gas, or 21% of world’s total gas reserves, and 50 billion barrels of condensate.
The gas field is estimated to contain a significant amount of natural gas, accounting for about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.
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