Gas reserves of the Iranian South Pars field amount to 156,000 tonnes of gold

Almaty. October 25. Silkroadnews – The gas reserves of the Iranian South Pars field amount to 156,000 tonnes of gold, the Iranian Telegraph Agency (IrTAG) reported referring to The Islamic Republic News Agency.
“Iran's South Pars gas reserve is equal to 155,992 tonnes of gold or the revenue gained throughout 120 years of oil production,” the agency quoted Managing Director of the South Pars Gas Complex Massoud Hassani saying.
It is noted that the gas reserves in South Pars, the area of which is 3,700 square kilometers, reach 14 trillion cubic meters of gas and 19 billion barrels of gas condensates.
The volume accounts for 8% of the world’s reserves and 50% of the gas reserves in Iran, Hassani added.
It is reported that at present the gas production capacity of the South Pars gas complex is equal to 2.243 million barrels of oil per day. Production will increase to 5 million barrels per day after the completion of the development of the complex. To compare, in 2010 British Petroleum’s production of natural gas, crude oil, condensates and LNG amounted to 3.822 million barrels of oil, and in 2014 the amount dropped to 3.151 million barrels.
The South Pars gas field is one of the world’s biggest gas fields, located on Iran’s shared border with Qatar. It is expected that all phases of the project will be completed by the end of the next Persian year (March 21, 2019).