An Iranian official said the exports of the products of the country’s South Pars oil and gas field hit $9 billion in the first seven months of the current Iranian calendar year (March 2016-March 2017).
Speaking to reporters in Assaluyeh, southern Iran, on Wednesday, Managing Director of Pars Special Economic Energy Zone Mehdi Yousefi noted that different phases of the giant field produce not only liquefied natural gas (LNG) but also sideline products like condensates, methanol, propane, and parazyline.
He put the value of the exports of the gas field in the first seven months of 1395 (March to October 2017) at $9 billion, saying that it shows a 19-percent increase compared to the same period last year.
South Pars is part of a wider field that is shared with Qatar. The larger field covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters (South Pars) in the Persian Gulf. The remaining 6,000 square kilometers, referred to as the North Dome, are in Qatar’s territorial waters.
The Iranian oil and gas field 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.