Azernews.Az

The phase 12 of the South Pars gas field will come on stream by the end of the current Iranian calendar year (March 20), IRNA news agency quoted Pars Oil and Gas Company director Mohammad-Reza Zohairi as saying.

Power supply operations were completed last week and different units will become operational one after another, he noted.

The development plan of five phases of Iran's giant South Pars gas field (phases 15-18 and phase 12) has entered its 66th month.

Phases 15,16,12 are now over 87 percent complete, while the progress of phases 17 and 18 has reached 76 percent.

Iran is currently producing 300 mcm of gas per day from South Pars located in the Persian Gulf.

Iranian Oil Minister Rostam Qasemi said in November that 775 million cubic meters (mcm) of gas per day could be extracted from South Pars after all its phases come on stream.

Iran has attached a priority on boosting gas production capacity from its joint oilfields with Qatar and Saudi Arabia.

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 its South Pars gas field.

South Pars is part of a wider gas field that is shared with Qatar.