TEHRAN: Chief of National Iranian Oil Company (NIOC), Rokneddin Javadi, said that company is expected South Pars revenues in Persian Gulf to hit $127 billion within a couple of years.
Rokneddin said that such a target will be reached in the next two years as the natural gas production at the South Pars is set to climb to 250 billion cubic meters (bcm) by then.
The Iranian deputy petroleum minister added that in the current Persian calendar year (which ends on March 20), over 107 bcm natural gas was harvested from the energy source.
Javadi (pictured below) said as the South Pars development project comes to full fruition, its revenues will equal that of 5.8 million barrels of oil.
The senior oil ministry official made the comments at the inauguration ceremony of the main phase of the supergiant offshore gas field in southern Iran.
