Iran's gas production hits 120 bcm
Iran produced 120 billion cubic meters of natural gas from the
beginning of the current Iranian calendar year, which began on
March 20, the Dispatching Director of the National Iranian Gas
Company said on Monday, Trend news agency reported.
Iran currently produces 550-600 million cubic meters of gas per
day, IRNA news agency quoted Hassan Montazer Torbati as saying.
Iranian Oil Minister Rostam Qasemi announced on December 14 that
Iran plans to sign new gas export contracts in the near future.
Iran will also begin construction of the Iran-Pakistan gas pipeline
in 30 days, Qasemi said.
Iran plans to start construction of the Iran-Iraq gas pipeline, he
added.
By the end of the Fifth Five-Year Economic Development Plan in
March of 2016, Iran's gas production capacity will reach one
billion cubic meters per day, Qasemi said.
"By the end of the plan, the country will also produce 5.6
million barrels of oil per day," he added.
In November, Qasemi said 775 million cubic meters (mcm) of gas per
day could be extracted from South Pars gas field in the Persian
Gulf after all of its phases come on stream.
Iran is currently producing 300 mcm per day of gas from South Pars.
The country, which sits on the world's second largest natural gas
reserves after Russia, has been trying to enhance its gas
production by increasing foreign and domestic investments,
especially in South Pars.
South Pars is part of a wider gas field that is shared with
Qatar.