Iranian Gas Revenues May Touch $400 bn

Iran’s South Pars and other gas fields will likely generate annual revenue of $400 billion after their completion, country’s oil minister Rostam Qasemi was quoted as saying.

Press TV quoted the minister as saying that 770 million cubic meters of gas can be extracted from South Pars field after the completion of all of its phases. There are currently 27 discovered shared fields, 24 of which are either active or are being developed.

South Pars gas field is located in Persian Gulf and is world’s largest gas field, shared between Iran and Qatar. The field hold approximately 1, 800 trillion cubic feet (51 trillion cubic meters) of gas and 50 billion barrels (7.9 billion cubic meters) of natural gas condensates.