The economic value of gas extracted from South Pars exceeded $520 billion

Mohammad Mehdi Tavasolipour, the executor of hubs 2 and 5 of the pressure boosting plan, presented a picture of the current status of the field and the necessary measures to implement the pressure boosting plan in the specialized meeting on approaches to improving performance in the implementation of the South Pars gas field pressure boosting plan and assessment, which was held at the second meeting of the secretaries of the administrative transformation steering councils of the country’s executive agencies. He said: “Currently, about 70 percent of the country’s gas production is supplied from the South Pars field, and about 40 percent of the country’s gasoline production is also obtained from the gas condensate of this field.” He stated that the daily gas extraction from the South Pars joint field is more than Qatar, and pointing out that the exploitation of the South Pars joint field has been started since 2002, he added: “By the end of last year, a total of 2,820 billion cubic meters of rich gas had been extracted from this field, with an economic value of more than $520 billion, while the total cost of developing the field is estimated at about $84 billion.”