Iran’s president inaugurates new gas projects

Author: 
Associated Press
ID: 
1552835800291346300
Sun, 2019-03-17 13:17

TEHRAN: Iran’s President Hassan Rouhani has inaugurated a new
phase in the development of a massive natural gas field.
State TV on Sunday quoted the CEO of the South Pars gas field
company, Mohammad Meshkinfam, as saying the development will allow
Iran to overtake Qatar in the production of natural gas. The two
countries are among the biggest gas producers in the world, and
share the South Pars gas field, which is beneath the Arabian
Gulf.
Rouhani presided over the inauguration of four projects with a
total annual investment of $5 billion. Each will produce an
additional 56 million cubic meters of natural gas and 75,000
barrels of condensate per day.
Iran currently produces more than 600 million cubic meters of gas
and 200,000 barrels of condensate per day.

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US says Iran has lost $10bn in oil revenue due to sanctions
Source: FS – All-News-Economy
Iran’s president inaugurates new gas projects