OREANDA-NEWS. Iran's oil minister says the country plans to pump up natural gas production at South Pars gas field to 100 million cubic meters (mcm) per day by the end of the current Iranian calendar year (started March 21, 2015).

"The promise to increase gas production from South Pars to 100 million cubic meters [per day] will be fulfilled by the end of the current [Iranian] year," Bijan Namdar Zanganeh said.

He described the South Pars gas field as Iran's biggest industrial hub, expressing hope the key phases of the massive offshore reservoir will come on stream soon.

Zanganeh said that phases 12, 15, 16, 17 and 18 were among top priorities in the giant gas field, adding that phase 12 will be fully operational in the near future.

In December, a senior Iranian energy official said phase 16 of South Pars has come on line.

Reza Forouzesh, the development manager for phases 15 and 16 of South Pars, said phase 16 of the massive offshore reservoir supplied to the trunkline its first delivery of sweet gas measuring 7.5 million cubic meters (mcm).

He added that the output of phases 15 and 16 will hit 23 mcm per day once three gas desalting installations become operational.

South Pars covers an area of 9,700 square kilometers, 3,700 square kilometers of which are in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers are situated in Qatar's territorial waters.

The gas field is estimated to hold a significant amount of natural gas, accounting for about eight percent of the world's reserves, and approximately 18 billion barrels of condensate.