Managing Director of National Iranian Oil Company (NIOC) Ahmad Qalebani said on Wednesday that Iran produced 700 mcm/d of rich natural gas last Iranian calendar year (ended March 20, 2013).

He further noted that South Pars Gas Field in Persian Gulf is one of the major and key energy hubs in Iran, and a large portion of the gas produced in the country originates from this giant field.

Qalebani stated that partially inaugurating phases 15 and 16 of the South Pars Gas Field, and part of the gas sweetening facilities of phase 17 in addition to launching one train of phase 12 are major steps to be taken this year to increase the country's gas output.

Iran’s South Pars, divided into 28 phases, is part of a larger gas field shared with Qatar which holds about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

The Iranian part of the field covers an area of 3,700 square kilometers.

According to Iranian Oil Minister Rostam Qasemi, five phases of the South Pars Gas Field will come on stream in early September despite US-engineered sanctions against Iran over its nuclear energy program.

Qasemi announced on July 5 that a large proportion of equipment required for the development of 17 phases of the giant gas field is now being supplied by domestic manufacturers.

BA/BA