Iranian President Hassan Rouhani informed on Monday that the development of giant South Pars gas field, lying on the territorial border between Iran and Qatar in the Persian Gulf, will be complete by March 2018.
President Rouhani on Monday inaugurated two new phases of the South Pars Energy Zone in Assalouyeh which was established in 1998 for the utilization of South Pars oil and gas resources and encouraging commercial activities in the field of oil, gas and petrochemical industries.
According to Pars Oil & Gas Company, South Pars development projects were implemented by a consortium of Iranian companies.
“Putting into operation of South Pars phases 15 and 16 proved that the arbitrary sanctions can not weaken Iranian nation’s desire for progress,” Rouhani said on Monday.
Rouhani welcomed the rise of Iran’s gas output, saying that Iranian gas exports can enhance Iran’s ties with the world and help boost peace and stability in the region.
President Rouhani predicted an ‘economic boom’ in the post-sanctions era, due to begin in days to come.
To remind, in July 2015, Iran and global powers reached what has been described as a historic deal, where Iran agreed it would scale down its nuclear program, in return for the crippling economic sanctions being eased and eventually lifted against the oil and gas rich Middle Eastern nation.
Minister of Finance and Economic Affairs Ali Tayyebnia said that international experts foresee a bright future for Iran’s economy.
After lifting the sanctions, Iran will be able to have new possibilities and access to foreign resources which were inaccessible due to the sanctions, Tayyebnia added.
South Pars gas field covers an area of 9700 square kilometers, of which 3700 square kilometers belongs to Iran.