Iran Eyes Major Project Startups in Oil Industry during New Year

“This year, Iran will launch historic projects in the oil and petrochemical sectors that will be unprecedented in the country,” said the official referring to new phases of the supergiant South Pars gas field that is share by Iran and Qatar in Persian Gulf waters as well as a number of petrochemical projects that will become operational this year. 

South Pars development phases are known as SP projects. 

Speaking to reporters during a visit to South Pars 20 and 21 projects in Persian Gulf on Thursday, he said SP 15, 16, 17, 18, 19, 20, and 21 projects (valued at almost $20b) were prioritized in 2013 for development and will come online in the new year, putting Iran’s natural gas production from the gas field more than that of Qatar.

11 South Pars phases became operational under President Rouhani’s tenure since 2013, he said.