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Teen solves centuries-old math problem
TEHRAN, Dec. 21 (UPI) -- Development at two additional phases of the South Pars gas field will add 1.7 billion cubic feet of gas to Iran's production capacity, executives said.
Seyfollah Jashnsaz, managing director of the National Iranian Oil Co., said that his company expected Iran's Petropars to sign development contracts for two phases of the South Pars gas field in the Persian Gulf.
He noted that once Petropars finds financial backing for the development of phases 27 and 28 at the giant offshore field, Iran could funnel an additional 1.7 billion cubic feet of natural gas per day to regional pipeline networks, Iran's semiofficial Fars News Agency reports.
Iran is eager to boast of its natural resource capacity, touting the so-called Peace Pipeline for natural gas to Pakistan as an indication of its potential.
Washington and its regional allies, however, are wary of engaging in the Iranian energy sector because of prohibitive economic sanctions imposed for its controversial nuclear program, diminishing Iran's chances of joining the Western-backed Nabucco pipeline for Europe.
Iran sits on some of the largest oil and gas reserves in the world, ranking third in terms of proven oil reserves and second in terms of natural gas.
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