This comes as Iran's daily gas extraction from the field increased from 285 million cubic meters in 2013 to close to 600 million cubic meters in December 2018.
In addition, since the beginning of the development of the field, Iran has extracted 1,300 billion cubic meters of rich gas from it. In case each 1,000 cubic feet of the field's gas is estimated at 18 cents, Iran has earned a total of $250 billion from its cumulative production from the huge reserve.
All border blocks of the joint field, except its Phase 11, have come on stream. By March 2019, Iran’s sour gas extraction capacity will increase from South Pars phases currently under development (13, 14 and 22-24).
As scheduled, Iran's gas production capacity from the field will increase by 85 million cubic meters per day by February 4, 2019.
According to statistics, Iran's rich gas extraction from the field stood at 285 million cubic meters by March 2014. This amount was extracted from 110 wells while at present close to 600 million cubic meters — almost twice as much as figure for 2014 — of gas is extracted from a total of 267 production wells in the field.
Although Iran’s cumulative production from the gas field currently stands at 1.348 billion cubic meters, it only amounted to 596 billion cubic meters by 2013. Iran's average daily production from the field currently stands at 583 million cubic meters, accounting for 70 percent of the country's energy demand.
Iran's Oil Ministry and National Iranian Oil Company have placed an increase in gas extraction from the field by 85 million cubic meters per day on their agenda.
Part of this production target has been achieved as production capacity of the field's Phase 14 has risen to 28 million cubic meters per day.
By December 4, 2018, the remaining part of the production target was met while two gas sweetening trains of phases 22-24 also began operation on the same date.
The third offshore rig of the phase 14 will also be installed by March 2019 to expand extraction capacity from the field by 42 million cubic meters per day.
Qatar began developing its own sector of the field earlier than Iran. In 2002, both countries concurrently started gas extraction from the joint field and by 2007 they extracted the same amount of gas from the giant gas reserve.
However, in a matter of eight years, Qatar overtook Iran in extraction from the world's biggest gas field. During the eight-year period, the Arab state's gas production from the field reached 600 million cubic meters per day, whereas, Iran's output reached 285 million cubic meters per day at the end of the same duration.
During, 2013-2018, Iran's extraction from the joint gas reserve reached 372 million cubic meters per day, as the development of the gas field gained greater momentum. By March 2019, Iran's gas production from the field will amount to 600 million cubic meters per day.
Since the beginning of its development, Iran has invested $80 billion invested in the field, of which $14 billion have been spent on developing infrastructure such as road and airport construction.
The refinery of the field's Phase 13, with four refining trains, is currently ready for operation with a nominal sweetening gas capacity of 56 million cubic meters per day. This has become possible following the construction of the phase's fourth refining train. At present, this train is processing and injecting gas to the nationwide network, six million cubic meters of rich gas. Once four offshore rigs of Phase 13 become operational and capable of sending rich gas to its refinery, the phase's gas sweetening capacity will reach 56 million cubic meters per day.
Currently, feasibility studies on the development project of the second phase of the field, aimed at boosting gas pressure, which were undertaken by a French company have been completed and their results have been handed over to Pars Oil and Gas Company.
In the next stage the project's contractor will be selected and the work will begin. A total of $20 billion is required for implementing this project.