All development phases of the giant South Pars gas field will be accomplished in the next three years, a senior energy official announced on Friday. "The remaining phases of South Pars project will be ready before the beginning of 2017," Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi told reporters on the sidelines of his visit to the 19th International Oil, Gas, Refining and Petrochemical Exhibition in Tehran today. In relevant remarks last month, Iranian Oil Minister Bijan Namdar Zanganeh announced that three more phases of the South Pars project will go on stream in the current Iranian year (started March 21, 2014). Speaking to FNA in the Southern city of Assalouyeh and during a visit to phases 12, 17 and 18 phases, the oil minister said, "Phase 12 is one of the important and big phases of the South Pars and its completion is important." The Iranian oil minister, who was touring the various parts of the South Pars development phases along with First Vice-President Eshaq Jahangiri, pointed to the phases 17, 18 of the giant gas field, and said, "Construction of Phases 17, 18 of the South Pars has had more than 82 percent of progress." He underlined that the Iranian government is determined to complete the pending phases of the South Pars and will achieve part of this goal this year. The Iranian oil minister noted that the government has invested over $6.9 billion in Phase 12 and over $5.6 billion in Phases 17 and 18. Iran’s natural gas output currently stands at 500-550mln cubic meters per day, he said, and added phase 12 of the South Pars, when fully completed, will see domestic gas production rise by 15 percent (80mln cubic meters). The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. The field is estimated to hold 14 trillion cubic meters of gas as well as 18 billion barrels of condensates. The field covers an area of 9,700 square kilometers, 3,700 square kilometers of which lie in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, better known as the North Dome, are located in Qatar's territorial waters.