Iran Aims to Match Qatar in Extracting Gas From South Pars

Iran will likely extract as much natural gas from the South Pars gas field as Qatar by March 2014 if necessary budget of $53 billion is provided, Iran’s oil minister Rostam Qasemi said.

The government has been striving to boost gas output from South Pars field and has especially asked work to be speeded up in phases 12, 15, 16, 17 and 18, Mehr News Agency said.

The South Pars gas field is shared by Iran and Qatar. The Iranian share which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.