Update: Iran launches major gas projects to ensure energy supply

Iranian President Hassan Rouhani inaugurated a number of energy projects in South Pars gas field in the southern region of the country on Sunday, Press TV reported.

By the launch of projects, Iran kicked off production in the phases 17, 18, 19 as well as 21 and 22 of the South Pars gas field.

The projects would increase Iran's total gas production by 150 million cubic meters per day, the report said, adding that this brings the country's overall gas output to as high as 540 million cubic meters per day.

The inauguration of the phases also increased Iran's production of condensate by 200,000 barrels per day (bpd). The production of ethane and liquefied petroleum gas would increase by three million tons per day respectively.

Also, Rouhani inaugurated production of 35,000 bpd of oil from South Pars Oil Layer.

He described the development of the Oil Layer "a dream come true", expressing the hope that production from the oil field would increase to as high as 60,000 bpd in the near future.

Other projects put on stream included four petrochemical projects that were developed by private companies in South Pars.

The South Pars/North Dome field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field shared between Iran and Qatar.

According to the International Energy Agency, the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels of natural gas condensate. Endit