SHANA -- Iran is to launch four new condensate storage plants which had added 2 million barrels of the item’s storage capacity.

Addressing a press conference on Saturday, CEO of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam outlined the company’s performance on the occasion of its 20th establishment anniversary.

He stated that the total gas reserves of the fields operated by POGC, including South Pars, North Pars, Farzad A and B, Golshan, Ferdowsi, Bilal and Kish, stood at 673 trillion cubic feet, adding development of Kish gas field had recently been awarded to POGC.

The first phase development of the field has been carried out by the Petroleum Engineering and Development Company (PEDEC) and the remaining phases will be completed in the future, he added.

The POGC CEO said the production capacity of gas from the joint South Pars gas field was 600 million cubic meters per day, adding that all the blocs of the joint field except for phase 11 were being productive and by the end of the current Iranian calendar year the capacity of sour gas production from the developing phases of this field (13, 14, 22-24) would increase.

Gas production from South Pars doubled in 5 years

Meshkinfam said that production of natural gas from South Pars gas field stood at nearly 600 mcm/d from 267 offshore wells while it was only 285 mcm/d back in 2013 from 110 wells.

He also stated that currently Iran was producing an average of 583 mcm/d from the join field which is shared with between Iran and Qatar in Persian Gulf waters. The field contributes to the supply of 70 percent of Iran’s need for energy.