Iranian gas condensate export hits $ 3 bn

Oct 28, 2010 12:00 AM

The amount of gas condensate exports from Iran's Southern Pars gas field hit $ 3 bn, Pars Special Economic Energy Zone managing director Moussa Souri was reporting. "In the first six months of the year (April 21-October 22), about 5,32 mm tons of miscellaneous gas condensate products from the operating phases in the Southern Pars (gas field), worth about $ 3 bn, have been exported through Pars Port Complex," he said.

The figures indicate a 50-% growth in the volume of the products and a 74-% jump in their value compared to the same period in 2009. Souri said the products exported in the six-month period from the economic energy zone amounted to 8 mm tons with a total value of $ 5.177 bn.

Non-oil products accounted for $ 2.2 bn of the total exports.

"The exports from the Southern Pars include namely light and heavy polyethylene, gas condensates, propane, butane, benzene, paraxylene, and other valuable products that have been exported to various countries across Asia and Europe," he added.

South Pars gas field is located in the Persian Gulf in the border zone between Iran and Qatar. The field's reserves are estimated at 14 tcm of gas. South Pars field's area is 3,700 sq km.

The process of developing the project of gas production from South Pars field is divided into 28 phases.

According to BP, Iran's proved oil and gas reserves are 137.6 bn barrels and 29.61 tcm. Iran ranks third in the world for oil reserves and second for gas reserves.

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