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Pakistani Energy Minister Stresses Importance of Iran's South Pars Gas Field

Service : Economy
TEHRAN, July 19 (ICANA) – Pakistani Energy Minister Raja Parviz underlined the importance of Iran's South Pars oil and gas field, and called for boosting cooperation between Tehran and Islamabad in energy fields.
Tuesday, July 19, 2011 10:08:45 PM
Pakistani Energy Minister Stresses Importance of Iran's South Pars Gas Field

"South Pars is one of the most important world oil and gas reserves," Parviz said after visiting the field on Tuesday.

He praised Iran's astonishing progress in oil and gas industries and other energy fields, and reiterated his country's enthusiasm for the further expansion of cooperation with Tehran.

"Pakistan and Iran enjoy close cooperation in the energy sector and we hope that such cooperation will increase and improve every day," Parviz said.

Iran and Pakistan have expanded their energy cooperation in recent years with Iranian Minister of Energy Majid Namjou saying in June that Iran plans to increase supply of electricity to Pakistan.

"Due to Pakistan's dire need to electricity, Iran can supply part of its power surplus to Pakistan," Namjou stated, adding that Iran has 10,000MW electricity surplus during season.

In 2008, Iran agreed to export 1,100 megawatt of electricity to Pakistan to help it overcome shortages in areas bordering Iran, especially in Gwadar.

Tehran has suggested establishment of joint venture companies in water and electricity sectors between Iran and Pakistan, and expressed its desire to have a sizable investment in hydroelectric plants in Pakistan.

Iran has 137.6 billion barrels of proven oil reserves and 29.61 trillion cubic meters of proven gas reserves, ranking third in the world in oil reserves and second in gas reserves.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 24 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

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