Iran's Mega South Pars Gas Field Nears Completion | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Iran's Mega South Pars Gas Field Nears Completion

The net present value of Iran’s supergiant South Pars natural gas field has jumped from an estimated US$116 billion at this point last year to US$135 billion now, a senior oil and gas industry source who works closely with Iran’s Petroleum Ministry exclusively told OilPrice.com last week. The key reason behind this valuation boost is that progress across all areas of the development, including the controversial Phase 11, has picked up pace on the back of an increase in the involvement of various Chinese companies who operate under the U.S.’s sanctions radar through individual contact-only projects, not as official field developers. Given this, it is now expected by Iran’s Petroleum Ministry that the entire South Pars project will be producing at or near fully Phase 1 capacity well in advance of the March 2022 official completion date.

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