Addressing a labor commission in the southern province of Bushehr, Moqimi said proper and logical exploitation of natural resources is top on the administration’s agenda.
He said the Rouhani Administration supports development of the giant gas field in Persian Gulf waters in order to facilitate the country’s economic development.
The official also called on the regional officials to join supporters of the project, adding production from the field has soared by 200,000 mcm/d since 2013 to nearly half a billion cubic meters per day.
South Pars, divided into 29 development phases, contains 40 trillion cubic meters (tcm) of natural gas. It covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar’s territorial waters.
The gas field is estimated to contain about eight percent of the world’s reserves, and approximately 18 billion barrels of condensate.