Iran Opens South Pars Phases Amid Sanctions Crunch

摘要

Iran has inaugurated another four phases of its giant South Pars offshore gas field developed at a total cost of $10 billion, leaving just two of the 24 phases open for development and pushing production from the field it shares with Qatar beyond that of its southern Mideast Gulf neighbor. The official inauguration of Phases 13 and 22-24 by Iranian President Hassan Rouhani on Sunday comes against the backdrop of tough US sanctions, which have cut the Opec member’s oil exports by more than half and curbed its ability to attract foreign investment and technology into its energy sector (OD Dec.19’18).