Iran president inaugurates two South Pars phases

Iranian President Hassan Rouhani has officially inaugurated Phases 15 and 16 of the South Pars gas field in southern coasts of the country. The country's Oil Minister Bizhan Namdar Zanganeh has also attended the inaugural ceremony, Shana news agency reported Jan 11.

Reportedly, phases 15 and 16 of South Pars are expected to earn Iran $20 million a day.

Early production of the phases has started since 2014 with a capacity of 17 cubic meters of gas.

Over the past two years, the phases have given out over 15.5 billion cubic meters of gas, 14 million barrels of gas condensates, three thousand metric tons of sulfur, and over five thousand metric tons of ethane.

Granting gas at 25 cents per cubic meter and gas condensates at $40 per barrel, it can be said the two phases have so far made over $4.5 billion.

/By Trend/