Production has now finally started at Phase 11, one of the most controversial of Iran's South Pars gas field
Iran’s Petroleum Ministry confirmed the start of production from Phase 11 at the South Pars gas field.
Following the U.S. withdrawal from the JCPOA, China and Russia have been quick to step into the void.Iran’s South Pars gas field is one half of the world’s largest gas resource – the other being Qatar’s North Field – so any official announcement on production plans from there is a major event.
At that point, CNPC automatically took over Total’s 50.1 percent stake in Phase 11, to add to its existing 30 percent stake and was all set to continue with the development of the site, given the enormously beneficial terms that it was offered by Iran. Specifically, OilPrice.
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