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TEHRAN – The biggest phase of Iran’s South Pars gas field, namely the phase 12, was officially inaugurated on Tuesday by Iranian President Hassan Rouhani.
Addressing the inaugural ceremony, Rouhani said the government puts great emphasis on the policies of resistance economy, the Mehr news agency reported on Tuesday.
He referred to inauguration of phase 12 as one of the plans of resistance economy and a symbol of overcoming the sanctions.
Production of over 120 million cubic meters of gas in the South Pars in the current Iranian year (which began on March 21, 2014) indicates the jihadi spirit of Iranian experts, the president stated.
Rasoul Fallahnejad, the project manager of the phase 12, has said that the phase 12 will inject about 75 million cubic meters (mcm) of gas into the national gas network per annum.
The project will bring in about $10 billion annually, which accounts for three percent of the country’s GDP.
The South Pars gas field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf.
The remaining 6,000 square kilometers, i.e. North Dome, are in Qatar's territorial waters.
The Iranian gas field, which is divided into 29 phases, contains 14 trillion cubic meters of natural gas, about eight percent of the world's reserves, and more than 18 billion barrels of LNG resources.
It ranked Iran as first in the world in terms of natural gas reserves, with 33.6 trillion cubic meters, replacing Russia as the country with the largest reserves.
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