© Reuters. Iranian President Rouhani gestures to the crowd at a public speech in Bandar Kangan
GENEVA (Reuters) – Iranian President Hassan Rouhani formally inaugurated four new phases of South Pars, the world’s largest gas field, on Sunday, according to a statement posted by the Iranian oil ministry on Twitter.
Iran has invested $11 billion to complete the four phases and they will increase the country’s gas production capacity by up to 110 million cubic meters per day, the statement said.
Iranian Oil Minister Bijan Zanganeh said on Saturday that Iran, which share South Pars with Qatar, expects to operate 27 phases by next March.
France’s Total and China National Petroleum Corp (CNPC) suspended investment in phase 11 of South Pars last year after the United States threatened to impose sanctions on companies that do business in Iran.
Zanganeh said on Saturday that talks are continuing with CNPC.
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