Iran working to overhaul gas sector

Sept. 16, 2013 at 6:36 AM

TEHRAN, Sept. 16 (UPI) -- An overhaul of one of Iran's largest natural gas processing facilities will help boost production exponentially, a director said Monday.

Hosain Norozi, managing director of the Parsian gas processing plant, said maintenance and construction at the plant, the third-largest in Iran, would help the facility reach a production level of 900 million cubic feet per day by the end of the Iranian year in March, the Oil Ministry's Shana news service reports.

Iran is one of the world leaders in terms of oil and natural gas reserves. Its production is curtailed by sanctions designed to rob Iran of oil revenue it could use to finance a controversial nuclear program it says is for peaceful purposes.

Iranian Oil Minister Bijan Zanganeh said he was looking to revitalize an energy sector handicapped by Western economic sanctions. He said Sunday new phases at the offshore South Pars gas field were expected to come online within the next year.

The U.S. Energy Information Administration reports South Pars holds 325 trillion cubic feet of natural gas, which represents about a quarter of Iran's total proved natural gas reserves.

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