Iranian oil minister talks about work done in oil, gas sectors

Oil Materials 24 June 2021 15:35
Baku, Azerbaijan Trend News Agency Elnur Baghishov
Iranian oil minister talks about work done in oil, gas sectors

Iran’s gas extraction from the Iran-Qatar joint South Pars gas field (called North Dome in Qatar) increased by 2.5 times over the last Iranian year (from March 20, 2020 through March 20, 2021), compared to 9 years ago (from March 20, 2021 through March 20, 2013), Iranian Oil Minister Bijan Zanganeh said, Trend reports citing IRINN.

He made the remark in an event dedicated to the launch of a number of oil and gas facilities in Iran today on June 24.

According to the him, if Iran's extraction from this field was 270 million cubic meters daily 9 years ago, this figure reached 692 million cubic meters daily last Iranian year.

"Iran has no other South Persian gas field. Therefore, Iran must maintain extraction from this field and save on consumption. Special attention should be paid to gas consumption, especially in power plants. Otherwise, there will be problems with gas production and consumption in Iran," the minister noted.

Zanganeh added that the annual subsidy in Iran’s gas sector is around $35-40 billion.

The minister emphasized that about 98.2 percent of Iranian cities and 84.6 percent of Iranian villages have already been supplied with gas.

Zanganeh said that gas supply to cities, villages and industrial enterprises has led to an increase in Iran's oil products exports. Thus, the exports Iran's oil products have quadrupled over the past nine years.

Iran reportedly extracts more than 1 billion cubic meters of gas a day.

In general, 21 cities, 2,800 villages and 4,660 industrial enterprises in Iran were supplied with gas and a number of oil-gas facilities have been put into operation today on June 24. A total of 137 trillion rials (about $3.26 billion) was spent in this regard.

As reported, about 572 million cubic meters of natural gas were consumed in Iran on the first day of this summer on June 22.

Gas consumption in residential, commercial and small industrial facilities amounted to 192 million cubic meters, in large-scale industry to 142 million cubic meters, while in power plants to 238 million cubic meters over the mentioned day.

The South Pars gas field (called North Dome in Qatar) is a joint gas field of Iran and Qatar. The proven reserves of the South Pars Gas Field are estimated at 51 trillion cubic meters of gas, of which 36 trillion are extractable. Iran has so far spent $90 billion on projects of the South Pars gas field.

Iran extracted an average of 690 million cubic meters of gas daily from this field in the last Iranian year (from March 20, 2020, through March 20, 2021).