TEHRAN, Iran – More investment is needed to accelerate the current development projects on the South Pars gas field in the Persian Gulf, according to Pars Oil and Gas Co.’s managing director, Ali-Akbar Shabanpour.
He suggested a figure of $9.5 billion to Iranian news service Shana.
Phases 12, 15, 16, 17, and 18 are all expected to enter production in the next few years.
Gholam-Reza Manouchehri, managing director of the Iranian Offshore Engineering and Construction Co. (IOEC), said his company was ready to develop Phase 11, assuming the work is allocated to Iranian companies. Phase 11 will likely supply sour gas to the Pars LNG project, producing 2 bcm/d (70 bcf/d) of gas and 70,000 b/d of condensate.