Iran to Up Natural Gas Production to One bcm Per Day by 2020

Friday / May 22, 2015

b02c6b0a-be10-4026-bb3e-580e9e481f40In a meeting with gas industry contractors, Hamid Reza Araqi, Managing Director of the National Iranian Gas Company disclosed that Iran had plans to increase its natural gas production to one billion cubic meters (bcm) per day by the end of the Sixth Economic Development Plan (2015-2020).

To reach its goal for gas production, Iran needs to implement all underway projects related to the gas sector, Iran’s SHANA news agency reported. The official added that natural gas plays an important role in the country and fulfilled about 70 percent of Iran’s energy basket.

By increasing foreign and domestic investments, Iran is trying to enhance gas production especially in its South Pars gas field. The 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.

Ali Akbar Sha’banpour, Managing Director of Pars Oil and Gas Company (POGC) also said that when the 12th phase of the field becomes fully operational this year, it would produce 2.5 tcf/d of natural gas. On the whole, when phases 15,16,17,18 and 19 come on-stream by the end of the year, the field’s overall natural gas output will increase by 7 tcf/d,” he added.

SNM Events News Service
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