Iran’s gas condensate exports up 80%

November 16, 2015

TEHRAN - Exports of gas condensate from Iran’s South Pars gas field rose by 80 percent in the seventh Iranian calendar month of Mehr (September 22-October 22) compared to the same month in the previous year, according to an Iranian oil official.

Gas condensate, a light form of crude oil produced in association with natural gas, accounted for 19.6 percent of the country’s total non-oil exports during the first half of the current calendar year. 

Seyed Pirouz Mousavi, the managing director of the Iranian Oil Terminals Company, said Iran exported 14.725 million barrels of gas condensate in the mentioned month, compared to 8.123 million barrels in the same month last year, according to the Shana News Agency.

The official also announced that the country’s gas condensate exports stood at 73.821 million barrels in the first half of the current Iranian calendar year (March 21-Septemebr 21), showing 16 percent growth year on year.

The nation's condensate production now stands at 550,000 barrels per day, of which 240,000 bpd is consumed domestically and 310,000 bpd is exported.

Of Iran's current condensate production, some 90 percent comes from the South Pars field. 

The South Pars gas field, which Iran shares with Qatar in the Persian Gulf, contains significant amounts of gas and condensate. 

Sales of condensate from South Pars supplement Iran’s crude oil exports, which are constrained by international sanctions. Condensate exports face no such constraints so long as they go to buyers permitted under the U.S.